# Payy Says Exploit Stole User-Held, Non-Custodial Deposits

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/23999
Published: 2026-09-25T05:14:18.000Z
Updated: 2026-09-25T05:14:18.000Z

Payy confirmed that assets stolen in an exploit were user-held, non-custodial deposits placed in Payy Network and Payy Wallet, making the incident a direct loss involving customer funds.

The privacy-focused stablecoin payment network said it is pursuing recovery of the assets while conducting a root-cause analysis.

About 1.8 million USDC was transferred from Payy Network during the suspected attack. The confirmed status means the stolen funds were deposits controlled by users through Payy’s network and wallet.

The recovery effort and technical investigation are ongoing.