The post Theft of 17,693 USDC from x402 Cross-Chain Protocol appeared on BitcoinEthereumNews.com. Key Points: Theft from x402 cross-chain results in 17,693 USDC loss. x402 creator transferred contract ownership to unauthorized address. Users urged to revoke excessive authorizations to prevent future breaches. On October 27, 2025, the x402 cross-chain protocol experienced a security breach that resulted in the unauthorized transfer of 17,693 USDC from more than 200 user wallets. This incident underscores significant risks within DeFi, challenging user authorization practices and highlighting vulnerabilities in smart contract controls, especially regarding excessive authorizations. x402 Protocol Breach: Unauthorized Ownership Transfer Details The x402 cross-chain protocol suffered a breach when ownership was transferred to an unauthorized address. The contract’s creator initiated the transfer, leading to the unauthorized movement of funds from user wallets. The attacker used privileged contract methods to drain funds. Immediate implications include significant financial losses for over 200 users and heightened security concerns within the DeFi ecosystem. raising alarms about authorization practices in decentralized finance. Market reactions emphasize increased caution. GoPlus issued urgent security alerts advising users to cancel excess authorizations, while @402bridge confirmed law enforcement involvement. Community sentiment pushes for more secure contract management practices and user education on approval protocols. “We have promptly reported the incident to law enforcement authorities and will keep the community informed with timely updates as the investigation progresses.” — @402bridge Official Account, Team, 402bridge Regulatory Scrutiny Expected as USDC Value Holds Steady Did you know? Previous high-profile DeFi breaches, like the Ronin Bridge hack, revealed vulnerabilities in smart contract authorization, drawing parallels with the x402 incident. According to CoinMarketCap, USDC is priced at $1.00, with a market cap of $76.16 billion as of October 28, 2025. The 24-hour trading volume is approximately $15.90 billion, reflecting a 10.12% decline in trading activity. Over the past 90 days, USDC’s price adjusted by about 0.02%. USDC(USDC), daily chart, screenshot on… The post Theft of 17,693 USDC from x402 Cross-Chain Protocol appeared on BitcoinEthereumNews.com. Key Points: Theft from x402 cross-chain results in 17,693 USDC loss. x402 creator transferred contract ownership to unauthorized address. Users urged to revoke excessive authorizations to prevent future breaches. On October 27, 2025, the x402 cross-chain protocol experienced a security breach that resulted in the unauthorized transfer of 17,693 USDC from more than 200 user wallets. This incident underscores significant risks within DeFi, challenging user authorization practices and highlighting vulnerabilities in smart contract controls, especially regarding excessive authorizations. x402 Protocol Breach: Unauthorized Ownership Transfer Details The x402 cross-chain protocol suffered a breach when ownership was transferred to an unauthorized address. The contract’s creator initiated the transfer, leading to the unauthorized movement of funds from user wallets. The attacker used privileged contract methods to drain funds. Immediate implications include significant financial losses for over 200 users and heightened security concerns within the DeFi ecosystem. raising alarms about authorization practices in decentralized finance. Market reactions emphasize increased caution. GoPlus issued urgent security alerts advising users to cancel excess authorizations, while @402bridge confirmed law enforcement involvement. Community sentiment pushes for more secure contract management practices and user education on approval protocols. “We have promptly reported the incident to law enforcement authorities and will keep the community informed with timely updates as the investigation progresses.” — @402bridge Official Account, Team, 402bridge Regulatory Scrutiny Expected as USDC Value Holds Steady Did you know? Previous high-profile DeFi breaches, like the Ronin Bridge hack, revealed vulnerabilities in smart contract authorization, drawing parallels with the x402 incident. According to CoinMarketCap, USDC is priced at $1.00, with a market cap of $76.16 billion as of October 28, 2025. The 24-hour trading volume is approximately $15.90 billion, reflecting a 10.12% decline in trading activity. Over the past 90 days, USDC’s price adjusted by about 0.02%. USDC(USDC), daily chart, screenshot on…