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Zama Freezes cUSDC, cUSDT, cWETH Over $12.5M Hacker Deposit, Court Issues Overnight Restriction Order

GateNews

Enforcement Actions Security Incidents Project Progress

2026-05-31 00:02:24

ZAMA6.97%

USDC0.02%

According to Foresight News, Zama founder Rand disclosed overnight that the cUSDC contract freeze stems from a $12.5 million USDC deposit made by a hacker address connected to Overnight Finance. The address was not flagged by sanctions lists or KYT tools at deposit time; however, a U.S. court issued a restriction order freezing associated wallets. Since over 99% of contract funds originated from the hacker, the court directly ordered the entire wrapped contract frozen to secure proceeds. Zama has halted cUSDC, cUSDT, and cWETH contracts pending full review and is coordinating with relevant parties to expedite unfreezing.

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