Sei Network issued a warning to holders of USDC.n tokens, urging them to swap for native USDC ahead of a major upgrade planned for March.
USDC.n is a bridged version of Circle’s USDC stablecoin on the Sei Network, originally issued on the Noble appchain and enables interoperability in ecosystems like Cosmos.
This story is an excerpt from the Unchained Daily newsletter.
Subscribe here to get these updates in your email for free
The SIP-3 upgrade, scheduled for the mainnet in March, will transition Sei to an EVM-only chain, meaning it will no longer support Cosmos-native assets like USDC.n.
“After this upgrade, USDC.n may become inaccessible or lose its value on the Sei Network,” said the Sei team in a statement
The team urged holders to use tools like DragonSwap or Symphony to swap small amounts, and Brr to migrate larger volumes through Circle’s Cross-Chain Transfer Protocol (CCTP).
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
USDC daily trading volume reaches $39.05 million, hitting a 52-week high
Gate News reports that on March 26, according to official data, the daily trading volume of USDC reached $39.05 million, a 52-week high.
GateNews6m ago
Fenbushi Co-Founder Offers Bounty to Recover $42M Crypto Hack
Fenbushi Capital co-founder Bo Shen has initiated a bounty program to recover $42 million stolen in a 2022 hack, offering 10-20% rewards for contributions to recovery. Recent advances in blockchain analysis have improved investigative capabilities, with some funds already frozen.
GateNews26m ago
# Major CEX Again Rejects Latest Draft of Clarity Act, Disagreement Remains Focused on Stablecoin Yield Provisions
A certain CEX has again stated to the U.S. Senate that it cannot support the latest draft of the Clarity Act due to core disagreements over stablecoin yield provisions. The CEX expressed "serious concerns" about the new proposal, noting that this regulatory direction would have significant financial implications for its future.
GateNews5h ago
Circle Unfreezes Wallets Associated with Single Civil Lawsuit, Following Criticism Over Unprofessional Batch Freezing
On-chain detective ZachXBT pointed out that Circle unfroze a balance of 130,966 USDC in a wallet associated with Goated. Previously, Circle had frozen 16 hot wallets in response to U.S. civil litigation, a freezing decision that lacked basis and impacted the company's daily operations.
BlockBeatNews5h ago
Distributed Shenbo: Set Bounty to Recover Approximately $42 Million Stolen Three Years Ago
Shen Bo, founder of Distributed Capital, had his personal wallet compromised in November 2022, resulting in losses of approximately $42 million. After three years of tracking, the team has obtained key leads and is publicly soliciting information from those who can provide clues, offering rewards of 10%-20% based on contributions. Approximately $1.2 million in assets has been frozen so far, and the team has expressed gratitude to individuals and teams who have continuously provided assistance.
BlockBeatNews6h ago
Circle Freezes USDC Balances in 16 Hot Wallets Involving Exchanges and Multiple Business Operations
Gate News: On March 26, according to ZachXBT's disclosure, Circle froze USDC balances in 16 business-related hot wallets on March 25. The relevant entities stated that this action is related to a U.S. civil case with details not yet made public. ZachXBT stated that upon reviewing on-chain data, these addresses are involved in exchanges, gaming platforms, and forex businesses with no apparent connections to each other. The freeze has already impacted the operations of the related businesses.
GateNews7h ago
