Circle freezes wallet related to a single civil lawsuit

BlockBeats reported that on March 26, on-chain detective ZachXBT pointed out that Circle has unfrozen the USDC balance from a previously frozen wallet. The wallet "0x61f…e543" associated with Goated"."com has regained access to its USDC balance and currently holds 130,966 USDC. ZachXBT also noted that other affected wallets may be restored "in the near future."

Recently, Circle froze the USDC balances of 16 hot wallets belonging to multiple companies. The freeze was triggered by a U.S. civil lawsuit, details of which have not yet been publicly disclosed. ZachXBT stated yesterday that these wallets, which are used by businesses in areas such as trading platforms and forex, did not appear to have any clear connections with each other, raising doubts about whether Circle thoroughly reviewed the freeze requests. These wallets serve as operational hot wallets for handling a large number of user transactions, and the freeze has impacted their daily operations.