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2026 Circle — SwapNet exploit on Base, $13M USDC stolen

2026 Unknown records affected Share on X

Data compromised

$13M USDC

Technical writeup

SwapNet contract on Base network exploited Jan 25, 2026; ~$13M USDC stolen. ZachXBT criticized Circle for not freezing ~$3M USDC in attacker's address. Platform exploitation affecting Circle ecosystem.

Root cause

Smart contract exploit

References