The privacy protocol Hinkal has suspended affected smart contracts due to abnormal USDC transactions on the Ethereum chain.

According to Odaily, the decentralized privacy protocol Hinkal Protocol has announced that it has detected abnormal activity involving USDC on the Ethereum network within its system. Currently, this issue only affects the Ethereum blockchain, while other chains remain unaffected. As a precautionary measure, the affected smart contracts have been paused, and a comprehensive investigation and analysis of related on-chain transactions and activities is underway. The investigation is still ongoing, and further updates will be provided once the information has been verified.

Earlier reports stated that suspicious USDC transactions on Hinkal led to a loss of 800 thousand US dollars.