BlockBeats report: On May 30, Zama Protocol founder Rand issued an updated statement regarding the freezing of the cUSDC contract. The root cause has been identified: the incident is entirely unrelated to Zama or its privacy technology, but stems from approximately $12.5 million in USDC previously deposited by a hacker address associated with Overnight Finance. At the time, this address was not flagged on any sanctions list and was not intercepted by KYT tools. However, last night, a U.S. court issued a restraining order freezing the wallet linked to the hacker. Since over 99% of the funds in the contract originated from this hacker, the court directly ordered the freezing of the entire wrapped contract to secure the stolen assets.
Zama emphasizes that it has always adhered to a "compliance and confidentiality" stance and will not tolerate any illegal activities. It is currently communicating with all parties to expedite the unfreezing process, while having temporarily paused the cUSDC, cUSDT, and cWETH contracts for a thorough investigation. A detailed post-incident analysis and a plan for handling future court requests will be released shortly.