BlockBeats News, March 26 — On-chain investigator ZachXBT announced that Circle has unfrozen the USDC balance in a previously frozen wallet. The wallet associated with Goated.com, address 0x61f…e543, has regained access to its USDC balance, currently holding 130,966 USDC. ZachXBT also noted that other affected wallets may be restored “in the near future.”
Circle recently froze the USDC balances in 16 hot wallets belonging to multiple companies. The freeze was initiated due to an ongoing U.S. civil lawsuit with undisclosed details. ZachXBT stated yesterday that these wallets involved in trading platforms, foreign exchange, and other businesses do not appear to be directly connected, questioning whether Circle thoroughly reviewed the freeze requests. The affected wallets are operational hot wallets used by businesses to handle large volumes of user transactions, and the freeze has impacted their daily operations.
ZachXBT also pointed out, “The New York civil case is under seal, and no grounds have been provided for freezing all business addresses. This might be the most unprofessional freeze action I’ve seen — essentially outsourcing the freeze decision to any federal judge rather than establishing its own process.”
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