Circle did not freeze the funds of the Coinbase hack incident, which has now been transferred across the chain by hackers
2025-10-02 10:17:53
On October 2nd, ZachXBT, a detective on the chain, disclosed that the attacker in the Coinbase hack exchanged about 5 million DAI for about 5 million USDC and kept the funds in the form of USDC for 35 minutes. Due to Circle's failure to freeze compliance, these funds were then transferred across the chain. The hacker stole over $300 million from Coinbase users by bribing customer service.
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