Gate News, March 25 — On-chain investigator ZachXBT revealed that Circle recently froze USDC balances in 16 hot wallets belonging to multiple companies. The freeze is related to a U.S. civil lawsuit whose details have not been publicly disclosed; this information was confirmed directly by one of the affected companies to ZachXBT. The wallets are involved in exchanges, casinos, foreign exchange, and other businesses, with no apparent connection among them. ZachXBT questioned whether Circle adequately reviewed the freeze requests and pointed out that these wallets are operational hot wallets used by businesses to handle large volumes of user transactions. The freeze has impacted their daily operations.
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