A Payy Network contract on Ethereum transferred 1,832,149.4681 USDC, worth about $1.83 million, in a transaction confirmed at 04:21:23 UTC on September 24, 2026. Blockchain investigator Specter flagged the movement and said the privacy payment network may have been drained, but Payy has made no public statement or confirmed a security incident. The transaction called Payy’s verifyRollup function and sent nearly all the funds to one address identified by Specter as connected to the incident. Specter said the funds were later swapped for ether and distributed across three addresses, although that portion of the analysis has not been independently confirmed. The cause, whether users were affected and whether $1.83 million represents the total loss remain unresolved.