Circle freezes $12.6M of USDC linked to privacy protocol Zama
60-second summary
Circle freezes $12.6 million in USDC linked to privacy protocol Zama, with onchain sleuth ZachXBT speculating that the freeze is related to an ongoing civil court case, despite no direct connection to Zama's operations. This move raises concerns about the potential impact on Zama's users and the broader stability of the USDC market, potentially affecting investor confidence.
The $12.6 million in USDC was likely frozen in connection with an ongoing but unrelated civil court case, according to onchain sleuth ZachXBT.