BlockBeats News, March 25 — According to on-chain investigator ZachXBT, Circle recently froze the USDC balances in 16 hot wallets belonging to multiple companies. The freeze is related to an ongoing U.S. civil lawsuit whose details have not been publicly disclosed, and the information was confirmed directly by one of the affected companies to ZachXBT.
ZachXBT stated that these wallets involved in exchanges, casinos, forex, and other businesses do not have obvious connections to each other, questioning whether Circle adequately reviewed the freeze requests. The wallets are operational hot wallets used by the businesses to handle large volumes of user transactions, and the freeze has impacted their daily operations.
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