According to CoinMeta, based on monitoring by Specter Investigation, the privacy-stablecoin payment network Payy Network is suspected of having been attacked, with approximately 1.8 million USDC being transferred away. The attackers initially obtained funds through the privacy protocol Railgun, and then exchanged the stolen USDC for ETH, dispersing the funds across three addresses. Payy Network is a privacy-oriented zk based on Ethereum and is mainly aimed at stablecoin payments. It has previously raised about 8 million US dollars in funding, with investors including FirstMark Capital, Robot Ventures, and DBA Crypto. As of now, there is no official confirmation of this incident from Payy in the public information, and the specific reasons for the attack as well as the final losses remain to be further verified.