Layer 1 blockchain Kava announced that its teams are tracking unexpected behavior originating from a decentralized application (dApp) within the Kava ecosystem, treating the investigation as a high priority with an official update to follow shortly. Amid the suspected security issue and a trading warning issued by South Korean exchange Upbit, the KAVA token plunged over 41% in the past 24 hours to around $0.04002. Kava is a cross-chain DeFi Layer 1 blockchain combining Cosmos performance with an Ethereum developer experience, backed by major investors including Binance Labs and Framework Ventures.