Tag Archives: usdc

Weeks after the failure of a series of US banks as well as the Credit Suisse chaos, the crypto market has considerably recovered but the same cannot be said for a prominent stablecoin that has served as a backbone for DeFi trades – USDC. The confidence in Circle-backed stablecoin remains severely battered as investors continue to flee to Tether (USDT), the controversial stablecoin, in search of a safety net amidst the turmoil. USDC Outflow USDC’s market cap was down by over...

The Kokomo Finance protocol has been found to be an elaborate exit scam after developers used wrapped Bitcoin to steal user funds worth $4M. According to reports, developers behind crypto lender Kokomo used Wrapped Bitcoin (wBTC) to perpetuate a $4 million exit scam. A CoinDesk report alleges developers pulled off the scam over the weekend after manipulating tokens to steal millions in user funds. The report further stated that these developers attacked the smart contract of wrapped...

Hackers have managed to infiltrate the Twitter account of a Circle executive to falsely state that the stablecoin issuer was conducting a USDC airdrop. The fake airdrop leads to a phishing website likely designed to steal users’ tokens. Circle CEO Jeremy Allaire confirmed that the Twitter account belonging to Dante Disparte, the company’s chief strategy officer and head of global policy, was hacked. Perpetrators used Disparte’s account to announce a fake USDC airdrop to the...

The collaboration between both entities to enhance USDC payment might attract some forms of skepticism owing to the Fear, Uncertainty, and Doubt (FUD) surrounding Circle, USDC, and the exposure to the three US banks that collapsed in the past week. American multinational financial services firm Mastercard Inc (NYSE: MA) has entered into a strategic partnership with Stables, an Australian fintech startup to help advance stablecoin adoption in the APAC region. As reported by CoinTelegraph,...

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