ZachXBT questions Circle's inadequate response to security incidents, claiming that the USDC ecosystem has centralized risks

Odaily Planet Daily reports that on X platform, on-chain detective ZachXBT questioned Circle’s handling of the security incident, stating that “history has proven that Circle is a bad actor.”

ZachXBT said that about 10 hours ago, the SwapNet contract on the Base network was attacked, resulting in a loss of approximately $13 million USDC. Of these, about $3 million USDC remain in an address (0x6cAad74121bF602e71386505A4687f310e0D833e) that can be frozen by Circle, but no effective action has been seen so far.

He further questioned that as a centralized stablecoin issuer, Circle did not take timely action to protect user assets after an attack, and asked why developers are still willing to build applications based on USDC, believing that its centralization risk and governance approach have already impacted ecosystem trust.