🔐 Hinkal Protocol Exploited for Over 800,000 USDC 🔹 Hinkal Protocol, a DeFi project focused on privacy-preserving solutions, has fallen victim to an exploit, resulting in a loss of 822,000 USDC. The team has confirmed the anomalous on-chain activity and stated that a thorough internal investigation is underway. 🔹 Notably, an on-chain analyst operating under the pseudonym Specter was the first to flag the security breach. According to their data, the attacker quickly swapped a portion of the stolen funds into Ethereum before routing the assets through the Tornado Cash mixer. 🔹 According to blockchain security experts at PeckShield, the perpetrator has already laundered approximately $700,000 using this method. The remaining portion of the drained pool liquidity was converted into Bitcoin by the attacker.