First of all, almost all USDC on FTOM is bridged by Multi, which we call USDC.Multi, contract address: 0x04068DA6C83AFCFA0e13ba15A6696662335D5B75. The total circulation is 180 million, which means that the 180 million USDC on FTOM are all value anchored by USDC on other chains. These 6 addresses have transferred about 120 million. It is said that it was transferred by hackers, but in fact everyone knows.

0xefeef8e968a0db92781ac7b3b7c821909ef10c88 30 million (all USDC is frozen) 0x027F1571ACA57354223276722DC7B572A5b05cD8 27 million (all USDC is frozen.)

0x48BeAD89e696Ee93B04913cB0006f35adB844537 7.5 million (most of which are USDC and USDT that have been frozen.) The frozen USDC is 60 million and the USDT is about 2.5 million.

0x418ed2554c010a0C63024D1Da3A93B4dc26E5bB7 13 million (all WETH cannot be frozen)

0x622e5F32E9Ed5318D3A05eE2932fd3E118347bA0 30 million (all WBTC cannot be frozen)

0x9d5765ae1c95c21d4cc3b1d5bba71bad3b012b68 15 million (DAI and other ERC20 Tokens cannot be frozen) The total assets of the three addresses that cannot be frozen are 60 million.

In order to save the situation, Zhao Jun’s sister transferred another 150 million in assets to two EOA wallet addresses. 0x48bead89e696ee93b04913cb0006f35adb844537 Assets: 75 million 0x1eed63efba5f81d95bfe37d82c8e736b974f477b Assets: 73 million

Currently, the assets in it are not frozen. The liquidity of Multichain itself is already insufficient. There are only a few million US dollars, that is to say, the 2.7 asset value of the above 7 wallets supports the 180 million USDC issued by Ftom.

At present, Multi's sister has been taken away. Personally, I think that even if Multi has engaged in money laundering, it cannot transfer Multi's user funds and cannot identify user funds as stolen money. Just like when you deposit money in a bank, does the bank have to confiscate the depositor's assets for money laundering? I think its behavior is unreasonable. The current recoverable value of USDC.MULTI is more than 60 million, which is reliable because Circle has frozen it and the fair price should be 0.3.

Summary: 60 million of the 120 million transferred by a certain department was frozen. The assets transferred by Zhaojun's sister have not been moved yet, and it is not known whether the private key is safe. Because they are all EOA addresses rather than multi-signature wallet addresses. 1: If the good situation: an institution is under external pressure and foreign investors are under pressure to defend their rights in China, it has to return the transferred assets and return them to investors, then USDC.Multi returns to 1.

2: In the medium case, a department does not return the funds, the assets transferred by Zhaojun's sister are preserved, and Circle's funds can be returned. Then the fair value is close to 1.

3: Bad situation: A department does not return the funds, Zhaojun’s sister is fined for transferring assets, and Circle returns them. Fair value 0.3

4: All funds are confiscated, and Circle gives the frozen money to a certain agency (extremely unlikely), and the funds are reduced to zero.

As for how to operate, it all depends on personal judgment. The general logic is this. If you want to buy and withdraw FTM to the chain, 1 inch slippage is relatively low. DYOR, does not constitute any investment advice. I hold USDC.Multi.