The venture capital arm of stablecoin issuer Circle was among the companies that invested in Nomad and Slope, which were recently hacked.
This week there was an attack on Nomad, a chain-link bridge, costing $200 million. Likewise, $ 6 million was withdrawn from Slope wallets. Circle, the issuer of the USDC stablecoin, has recently invested in both of these projects.
Planning to go public, Circle is also increasing its investments. The company has come under more regulatory scrutiny after the TetherUSD disaster. Attacks on Nomad and Slope can cause Circle’s problems to escalate.
Also known for investing in early-stage blockchain projects and companies, Circle raised $8 million in Slope Finance’s Series A funding round in February, and took part in the $22.4 million startup round for Nomad in April.
Responding to a question about the Nomad abuse, the Circle spokesperson stated that they are following the developments. The spokesperson gave the same answer to the question about Slope.
According to a Circle spokesperson, the company’s ties to Nomad and Slope did not cause any financial damage to the company. But even the company’s affiliation has a bad effect on brand equity.
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