Massive USDC Theft from x402 Cross-Chain Protocol Raises DeFi Security Concerns

A recent security breach involving the x402 cross-chain protocol has resulted in the loss of 17,693 USDC from over 200 user wallets. The incident highlights critical vulnerabilities in authorization practices and smart contract controls within the decentralized finance (DeFi) sector. Details show that the protocol’s creator transferred ownership to an unauthorized address, leading to funds draining from users’ accounts.