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ZachXBT

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4/ On January 25, 2026, SwapNet was exploited for $16M. 3M USDC sat in the exploiter's address for two days. Both law enforcement and private sector experts submitted temporary freeze requests to Circle for the theft address. Both were unsuccessful. One victim pursued a New York court order. The funds were swapped hours before the TRO was granted. Theft address: 0x6cAad74121bF602e71386505A4687f310e0D833e

History has shown that Circle is a bad actor. SwapNet contracts were exploited for $13M USDC on Base ~10 hours ago. 3M USDC is still sitting freezable at 0x6cAad74121bF602e71386505A4687f310e0D833e Why should anyone continue building on $USDC when you never take care of your users as a centralized stablecoin issuer?

1:16 PM · Apr 3, 2026 · 98K Views

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ZachXBT @zachxbt · Apr 3 1.1M

5/ On May 22, 2025, Cetus Protocol was exploited for $223M. The exploiter used CCTP to bridge 61M USDC from Sui to Ethereum across 60+ transactions over 1.5 hours. Both the Cetus team and private sector experts requested Circle to freeze the theft address. Circle blacklisted the address one month later, after the USDC had already been converted to ETH. Theft addresses: 0xe28b50cef1d633ea43d3296a3f6b67ff0312a5f1a99f0af753c85b8b5de8ff06 0x89012a55cD6b88e407C9d4ae9B3425F55924919b

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