the zama founder just said the quiet part out loud. "any contract holding freezable assets could have the same issue. this includes defi, staking, bridges." he just admitted the exact threat model. the entire fiat defi stack is just one subpoena away from a protocol-wide freeze. "court hearing on monday... stay tuned!" telling your users to grab popcorn for a federal hearing to see if they can access their liquidity is absolute comedy.

Keep in mind that none of what happened today has anything to do with privacy. Any contract holding freezable assets could have the same issue. This includes DeFi, staking contracts, bridges, etc. Thankfully, all the relevant parties have been responsive and helpful in resolving this matter. There is a court hearing on monday morning PT, where we will have a chance to explain our position. Stay tuned!

🚨 Alephium Bridge Exploit Update The Alephium bridge has been hacked and shut down. No new bridge transactions can be initiated. Early reports of a guardian key compromise are WRONG. The team confirmed the cause was malicious event emission, not stolen keys. Confirmed Drained Assets: Ethereum ( $ETH ) 🔹 200,967 $USDT 🔹 17,594 $USDC 🔹 5.18 $WETH 🔹 0.335 $WBTC BNB Chain 🔹 36,750 $USDT 🔹 24.386 $WBNB Attacker also minted ~13.7M fake wrapped $ALPH on Ethereum. ✅ Good News: ALPH locked in the bridge was NOT drained. A recovery process is coming for affected users. Action Needed Now: If you provide liquidity to ALPH pools on Uniswap or PancakeSwap, withdraw it. Do NOT swap or add liquidity until further notice. This limits the attacker from cashing out the fake ALPH. Team says compensation options are being explored. Next official update on Monday, with a full postmortem to follow. Stay Safe. DYOR. 🙏

Circle froze another protocol contract $12.6M in user funds. Locked Let us count the score: > Tether froze $514M in 30 days > Circle froze Tornado Cash contracts > Circle froze Zama protocol $12.6M gone If one company can freeze your funds with a single call you do not own your money You are just renting access to it 👀 #Circle #USDC #DeFi #Decentralisation #Cryptera

So if you don't know yet Circle freezed zama entire cUSDC contract because A hacker from the Overnight Finance exploit deposited $12.5M into Zama cUSDC pool before their wallet was blacklisted they could’ve just blacklisted the specific wallet but blocked the cUSDC contract

ALERT: Circle's court-ordered freeze traps $12.6M in Zama's c$USDC contract amid an Overnight Finance lawsuit.

interesting and a bit alarming case. Circle blacklisted @zama’s cUSDC contract, instantly freezing $12.6m in user funds. once again, Circle blacklisted a live smart contract, an alarming precedent, though as Roman Storm pointed out, it has happened before so what's happened. Zama says the freeze wasn’t about its privacy tech, but because 99%+ of the cUSDC wrapper came from funds later linked to the Overnight Finance hack, so the court froze the contract and Zama paused related wrappers pending investigation. Zama’s founder also said they are "not a mixer" and don’t hide senders or recipients, only balances and amounts but i think regardless of whether you’re trying to be a mixer or not, funds can still be instantly frozen by court order. that’s the reality here so yeah, not all privacy is private in the same way, and not all "decentralized" things are as decentralized as claimed

Sorry, you cannot send USDC from your wallet. It has been preemptively frozen because someone elsewhere in the world was allegedly being naughty.