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

Odaily reports that decentralized privacy protocol Hinkal has released a security incident update, confirming that the attacker extracted approximately 797,000 USDC from its Ethereum contract through a series of transactions and exchanged it for about 454 ETH. Among these, approximately 410 ETH was subsequently transferred to Tornado Cash, while the remaining approximately 44.67 ETH was bridged to the Bitcoin network via THORChain. The team is currently working with external security teams to trace the flow of funds.

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