ZachXBT Slams Circle for Letting Millions in Stolen USDC Flow Freely After Drift Hack
BeInCrypto
Onchain investigator ZachXBT criticized Circle for failing to freeze stolen USDC moving through its bridge following the $285 million Drift Protocol exploit.Summary
Onchain investigator ZachXBT has publicly criticized Circle for its failure to intervene during the $285 million exploit of the Drift Protocol. The attacker successfully moved stolen USDC across chains using Circle's Cross-Chain Transfer Protocol (CCTP) during U.S. business hours without any interference from the issuer. Critics, including researcher Specter, noted that the attacker appeared confident that Circle would not act, contrasting this inaction with Circle's recent controversial decision to freeze 16 unrelated business wallets due to a civil case. This incident has reignited debates regarding the consistency and accountability of centralized stablecoin issuers in managing their freeze authority.
(Source：BeInCrypto)