ZachXBT: Zama cUSDC Contract Frozen Funds Possibly Related to Overnight Finance
2026-05-30 08:58
Odaily Planet Daily News "On-chain detective" ZachXBT posted on his personal channel that, upon further analysis, Circle has blacklisted the cUSDC contract of privacy protocol Zama on Ethereum. An address deposited approximately $12.4 million USDC into the Zama protocol on May 11, 2026, and this address is associated with Overnight Finance. The latter project recently initiated a governance vote on Snapshot aimed at distributing treasury funds after users accused the team of conducting a rug pull.
Previously reported, the cUSDC contract of the Zama protocol on the Ethereum blockchain had been blacklisted by stablecoin issuer Circle.
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