ME News Report, May 30 (UTC+8), Zama Protocol founder Rand issued a latest statement regarding the freezing of the cUSDC contract. The root cause has been identified; the incident is completely unrelated to Zama itself or privacy technology, and stems from the Overnight Finance hacker address previously depositing about $12.5 million USDC. At that time, the address was not flagged on sanctions lists nor intercepted by KYT tools. But last night, a restraining order was issued by a U.S. court to freeze the hacker-related wallet. Since over 99% of the funds within the contract came from that hacker, the court directly demanded the entire wrapper contract be frozen to lock the illicit funds. Zama emphasized that it has always adhered to a "compliance and confidentiality" stance and does not tolerate any illegal activities. The team is currently communicating with all parties to expedite unfreezing, and has temporarily suspended the cUSDC, cUSDT, and cWETH contracts for thorough investigation. A detailed post-incident analysis and future plans for handling similar court orders will be released later. (Source: BlockBeats)

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OracleBabysitter

· 14h ago

99% of the funds in the wrapping contract come from hackers, this ratio is just too outrageous.

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GateUser-6bc62511

· 15h ago

This case has been included in textbooks: How privacy protocols prevent dirty money from flowing in

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SudoSoul

· 16h ago

Maintaining consistent confidentiality and compliance is the key point; subsequent communication speed is very important.

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ProofOfCoffee

· 16h ago

How could Overnight Finance's hacker deposit such a large amount? What about risk control?

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0xCouchPilot

· 16h ago

Wait for a detailed analysis to see how to block this vulnerability on a technical level.

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GateUser-656cc6e4

· 16h ago

The court directly freezes contracts, and the boundaries of DeFi compliance are becoming increasingly blurred.

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LiquidityBarista

· 16h ago

The compliance team acted quickly; pausing the investigation is a responsible approach.

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GateUser-23bf1070

· 16h ago

cUSDC cUSDT cWETH are all halted, user liquidity is significantly affected.

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MistValleySignpost

· 16h ago

$12.5 million in hacker funds have been laundered in, and Zama won't take the blame for this.

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Zama Founder: Currently communicating with all parties to expedite the unfreezing of the cUSDC contract, and a detailed post-event analysis will be released.

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