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Deep Tide TechFlow News: On March 25, according to disclosure by "on-chain detective" ZachXBT, Circle has recently frozen USDC balances in 16 hot wallets belonging to multiple enterprises. It is reported that this freeze stems from an undisclosed U.S. civil litigation case, with relevant information confirmed directly by one of the affected enterprises to ZachXBT.
ZachXBT believes that these wallets involved in exchanges, casinos, forex and other businesses have no apparent connections to each other, questioning whether Circle conducted sufficient due diligence on the freezing request; and stated that the relevant wallets are operational hot wallets used by business entities to handle large volumes of user transactions, with the freeze already impacting their daily operations.