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TechFlow, July 9 — On-chain investigator ZachXBT posted a response criticizing Circle for inaction regarding hacker activities. After GMX V1 suffered a $40 million hack, over $9 million worth of stolen funds remained unfrozen by Circle while circulating on the blockchain for 1-2 hours. These funds have already been bridged from Arbitrum to the Ethereum network via CCTP.
Chain on-chain investigator ZachXBT posted a response criticizing Circle for inaction regarding hacking activities. After the GMX V1 platform suffered a $40 million hack, the stolen funds remained on the blockchain for 1-2 hours, yet Circle failed to freeze over 9 million USDC, which had already been bridged from Arbitrum to the Ethereum network via CCTP.
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