coin-img-ETHETH-4.56%coin-img-BTCBTC-3.09%coin-img-SOLSOL-5.56%coin-img-XAUTXAUT-2.13%coin-img-PAXGPAXG-2.01%coin-img-BASEDBASED-3.29%coin-img-CDDCDD+73.91%coin-img-XRPXRP-3.31%coin-img-ETHETH-4.56%coin-img-BTCBTC-3.09%coin-img-SOLSOL-5.56%coin-img-XAUTXAUT-2.13%coin-img-PAXGPAXG-2.01%coin-img-BASEDBASED-3.29%coin-img-CDDCDD+73.91%coin-img-XRPXRP-3.31%coin-img-ETHETH-4.56%coin-img-BTCBTC-3.09%coin-img-SOLSOL-5.56%coin-img-XAUTXAUT-2.13%coin-img-PAXGPAXG-2.01%coin-img-BASEDBASED-3.29%coin-img-CDDCDD+73.91%coin-img-XRPXRP-3.31%coin-img-ETHETH-4.56%coin-img-BTCBTC-3.09%coin-img-SOLSOL-5.56%coin-img-XAUTXAUT-2.13%coin-img-PAXGPAXG-2.01%coin-img-BASEDBASED-3.29%coin-img-CDDCDD+73.91%coin-img-XRPXRP-3.31%

Drift Protocol Exploiter Converts $270M+ to USDC, Bridges to Ethereum for ETH; Circle Mints 500M USDC on Solana

An exploiter associated with the decentralized exchange Drift Protocol has reportedly converted over $270 million in illicitly obtained assets into USDC stablecoin. These substantial funds were subsequently bridged from their original chain to the Ethereum network, where they were utilized for significant purchases of Ethereum (ETH). Concurrently, during the same period of these on-chain movements, Circle, a prominent stablecoin issuer, minted 500 million USDC on the Solana blockchain. This activity highlights significant capital flows and liquidity dynamics within the cryptocurrency ecosystem, drawing attention to both the movement of illicit funds and large-scale stablecoin issuance.
USDC
USDC-0.02%
ETH
ETH-4.50%
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