Circle didn't freeze $268M in stolen USDC when Lazarus Group bridged it through their own infrastructure during business hours. The Drift Protocol exploit was April 1. The USDC was stolen. The USDC was bridged. The USDC was spent. Circle's compliance controls are only as fast as the humans who operate them. The truth: "compliant centralized stablecoin" is a promise that fails when the clock hits zero and the attacker is already gone. Behind the chart: this isn't a bug. It's a feature of a system that trusts people to stop attacks faster than machines can move money. @Rocket100ltd
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.