Zama Founder: Actively Communicating with All Parties to Unfreeze the cUSDC Contract Expeditiously, Will Release Detailed Post-Mortem Analysis

BlockBeats News, May 30th, Zama Protocol founder Rand released a new statement regarding the freezing of the cUSDC contract incident. The root cause has been identified, and the incident is entirely unrelated to Zama itself or its privacy technology. Instead, it originated from the Overnight Finance hacker address depositing approximately $12.5 million USDC. At that time, the address was not flagged on any sanctions list and was not intercepted by KYT tools. However, last night, a US court issued a restraining order to freeze the hacker-associated wallet. Since over 99% of the funds inside the contract are from this hacker, the court directly demanded freezing the entire wrapper contract to lock the illicit funds.

Zama emphasized that it has always upheld a "compliance with confidentiality" stance and will not tolerate any illegal activities. Currently, it is in communication with all parties to expedite the unfreezing process. Meanwhile, it has suspended the cUSDC, cUSDT, cWETH contracts for a thorough investigation and will release a detailed post-incident analysis and future plans for dealing with such court requests.