Decentralized privacy protocol Hinkal has experienced a significant security breach, resulting in the theft of approximately 800,000 USDC. According to CertiK Alert monitoring, the suspicious activity involved an EOA address, 0xbB3f01a1b1C68F3DEB36C55342b5F5706c32fc20, which executed a "Proofless Deposit" operation followed by multiple "Transact" transactions to siphon funds from the Hinkal contract. The incident raises concerns about the security measures in place for decentralized protocols.
Hinkal Privacy Protocol Hit by $800,000 USDC Theft
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