Injective integrates USDC and Circle's CCTP while facing controversy over bug bounty payments.
Injective, a layer-one blockchain platform, has announced the integration of the stablecoin USDC along with Circle's Cross-Chain Transfer Protocol (CCTP). This move aims to enhance the platform's financial capabilities, enabling users to perform seamless cross-chain transactions.
According to Injective, USDC has moved beyond being merely a crypto experiment to become part of a significant global payment infrastructure. The project's statement highlighted that stablecoin transaction volumes surged to $33 trillion in 2025, with USDC processing $18.3 trillion of that total. This volume surpasses half of Visa's annual transactions and is five times more than PayPal's.
With a market cap nearing $80 billion, the integration of USDC provides Injective users with direct access to substantial liquidity. The CCTP will facilitate:
- Effortless transfers of USDC across supported networks;
- Near-instant transaction finalization;
- Development of applications focused on cross-chain registration and trading.
Injective utilizes a MultiVM token standard for USDC, allowing full accessibility within Wasm and EVM environments without the need for bridges or token wrappers. The stablecoin will be rolled out on the mainnet in phases, with testing already underway on the testnet.
Bug Bounty Dispute Emerges
In a separate development, a bug bounty hunter, identified as f4lc0n, has accused Injective of unfair compensation for identifying a significant vulnerability in the platform’s code. He claimed that while he uncovered a flaw that could have jeopardized $500 million in assets, the team offered him only $50,000 for the discovery.
F4lc0n shared his concerns via social media, emphasizing that the vulnerability in the sub-account verification system could have allowed unauthorized market orders and withdrawal of funds. He has uploaded a detailed report to GitHub, asserting that his findings warranted a much higher reward, in line with the $500,000 listed for critical vulnerabilities on Injective's Immunefi page.
Despite raising this issue, f4lc0n noted that Injective did not respond to his inquiries for three months before making a significantly lower offer. He added that payment for his work has yet to be received. Recently, reports indicate that total losses from hacking incidents in the crypto sector dropped to $26.5 million in February, marking the lowest total since March 2025, according to data from PeckShield.
