Circle faces criticism as stolen funds move cross-chain and users warn of centralized stablecoin risks in DeFi.
SwapNet Base Hack Drains $16.8M, Circle Criticized Over USDC Freeze
AI IMPORTANCE: 9/10
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AI INSIGHT
SwapNet's Base bridge hacked; attackers drained $16.8 million in crypto, on-chain data shows. Stolen funds were moved cross-chain into multiple wallets and other chains, on-chain transfers indicate. Circle froze USDC addresses tied to the theft, blockchain monitors and affected users report.
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