Circle is facing scrutiny over its handling of stolen USDC t

Circle is facing scrutiny over its handling of stolen USDC transfers. This comes after approximately $230 million in stolen USDC was moved from Solana to Ethereum.The funds were transferred using Circle's Cross-Chain Transfer Protocol (CCTP) during the recent $285 million exploit of Drift Protocol. This incident highlights the challenges in managing cross-chain asset security. 🔗
Criticism intensified following reports that Circle also froze USDC balances belonging to 16 unrelated corporate hot wallets on March 23. This action was reportedly due to a civil dispute, as stated by NS3.AI. ⚖️
The exploit has significantly impacted Drift Protocol. Data from DeFiLlama shows its Total Value Locked (TVL) plummeted to under $250 million subsequent to the attack. 📉

.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}Circle is facing scrutiny over its handling of stolen USDC transfers. This comes after approximately $230 million in stolen USDC was moved from Solana to Ethereum.

Circle is facing scrutiny over its handling of stolen USDC transfers. This comes after approximately $230 million in stolen USDC was moved from Solana to Ethereum.