Hinkal suffered an attack resulting in a loss of 797,000 USDC and will fully compensate users for their funds.

Hinkal confirmed that the attacker extracted approximately 797,000 USDC from the Ethereum contract and swapped it for about 454 ETH, of which around 410 ETH was transferred into Tornado Cash and about 44.67 ETH was transferred to the Bitcoin network through THORChain. Hinkal has suspended all contracts and pledged to fully compensate affected users at a 1:1 ratio.