Circle CEO says he won’t freeze USDC without a court order even as hackers walk away with millions
CoinDesk·2h ago·Neutral
What Happened
Circle CEO Jeremy Allaire stated the stablecoin issuer will only freeze USDC wallets with court orders or law enforcement requests, not independently. This contrasts with rival Tether's proactive approach to blocking illicit funds. Critics argue Circle's inaction allowed over $420 million in stolen funds to escape since 2022, including $230 million from the recent Drift Protocol exploit.
Key Entities
Circle Internet FinancialJeremy AllaireUSDCTetherUSDTDrift ProtocolZachXBTNorth Korea$280 million exploit$420 million illicit funds