Web3 infrastructure provider Saga has suffered a hack resulting in a loss of approximately $7 million, with around $6 million of the funds bridged to the Ethereum blockchain. The company announced that its SagaEVM operations will remain paused until the investigation into the January 21 attack is concluded. Saga is collaborating with partners to address the breach and plans to release a detailed post-incident report once the investigation is fully verified. In the attack, about $7 million in USDC was transferred cross-chain and converted to ETH. Saga is working with exchanges and cross-chain bridges to freeze the associated addresses as part of their response to the security breach.