Circle did not freeze the USDC funds involved in the recent Coinbase hack, allowing the attackers to transfer them across the blockchain. According to ZachXBT, the hackers exchanged 5 million DAI for 5 million USDC and moved the funds via a cross-chain bridge after holding them for 35 minutes. Some of the funds were reportedly transferred using Circle's official Cross-Chain Transfer Protocol (CCTP).
Circle Fails to Freeze USDC in Coinbase Hack, Funds Moved Cross-Chain
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