hinkal will fully compensate user funds, confirming that approximately 797,000 USDC was withdrawn by an attacker and exchanged for 454 ETH

Odaily Planet Daily News: Decentralized privacy protocol hinkal has released a security incident update, confirming that an attacker extracted approximately 797,000 USDC from its Ethereum contract through a series of transactions and exchanged it for approximately 454 ETH, of which about 410 ETH was subsequently transferred to Tornado Cash, and the remaining approximately 44.67 ETH was cross-chained to the Bitcoin network via THORChain. The team is currently jointly tracking the flow of funds with an external security team.

Hinkal stated that the impact of this security incident is limited to the relevant fund pools on the Ethereum chain, and contracts on other chains are unaffected. However, all contracts have been temporarily suspended for repair and security verification. All affected users will be fully compensated at a 1:1 ratio. The specific compensation process and timeline will be announced in subsequent updates.