According to an official website post by Circle, the stable issuer of USDC, the Twitter account of Dante Disparte, its chief strategy officer and head of current policy around the world, has been hacked. In a previously deleted tweet, it was reported that Disparte accounts were gradually promoting false satisfaction rewards to USDC's ongoing customer marketing.

Before making the concession, the Disparte account posted the company's regulatory updates on Twitter, as well as its participation in the ongoing Paris blockchain Technology week. This cyber security problem arose less than a month ago when the risk reserve deposits held by Silicon Valley banks, a foreign technology bank, were temporarily decoupled. Since then, the matter has been resolved in time, and the United States Trade Development Commission has strictly enforced that point, although there are still subtle differences in the rules and regulations linked to the stablecoin at the time of publication of this article.

At the time of publication, four articles left by the alleged fraudster in the name of Dipat were deleted. Only three posts made general comments on recent events surrounding USDC:

The Daily Telegraph of the United States reported on March 11 that the data encryption whale suffered heavy losses because of the USDC decoupling incident. Soon after, fake Circle accounts gradually surfaced on social platforms, with service promises to detail consumers' property. Although the peg has been basically repaired, the exchange rate of USDC has basically exceeded US $10 billion since the beginning of this month.

It is reported that some decentralized financing protocols, such as the hook smooth control module of MakerDAO, the publisher of DAI (DAI) stablecoin, hard-code USDC to 1:1 in the blockchain smart contract, rather than reflecting its value. On the day of the incident, MakerDAO submitted an emergency proposal to reduce its $3.1 billion open-ended USDC risk reserve, which was used for pledge. Like USDC, Dai has restored its peg to the dollar to some extent, although there are still slight differences after the announcement.