Hinkal Protocol Halts Smart Contracts Over Suspicious USDC Activity

The Hinkal Protocol, a decentralized privacy protocol, has detected abnormal activity involving USDC on the Ethereum network. This issue is currently limited to the Ethereum blockchain and does not affect other chains.

As a precautionary measure, the affected smart contracts have been paused while an investigation into related on-chain transactions and activities is underway.

The investigation is ongoing, and further updates will be provided once the information has been verified. An earlier report stated that suspicious USDC transactions led to a loss of 800 thousand US dollars.