Circle issued onchain ultimatum to return 80% of stolen USDC funds within 48 hours or face token freeze via Circle's native freeze capability.
Security & Exploits ·
An individual claiming Circle employment sent an onchain message via the Base network demanding return of 80% of stolen USDC funds to the original source wallet within 48 hours, offering to let the recipient retain 20% as a white-hat bounty. The message, transmitted from a specific address, threatened to initiate Circle's native freeze process on remaining USDC if the deadline was not met.
Circle possesses the technical capability to freeze USDC on supported networks, a feature the company has previously invoked in cases of theft or sanctions compliance. The message structure—offering partial retention in exchange for rapid return—mirrors typical white-hat recovery frameworks, though the sender's actual affiliation with Circle and the legitimacy of the claim remain unverified.
No public confirmation from Circle has yet been issued regarding the authenticity of the message, the identity of the sender, or the details of the underlying theft. It is unclear whether the threatened freeze will proceed, whether the recipient complies with the ultimatum, or what the total amount of funds at stake represents.