Circle Freezes 58 Million USDC from the LIBRA Team

BlockBeats News, May 29th, according to Decrypt, the stablecoin USDC issuer Circle recently froze two Solana wallet addresses related to the LIBRA token team, involving approximately 58 million USDC. According to Solscan data, the frozen addresses respectively hold 44.59 million and 13.06 million USDC.

This freeze stemmed from a legal dispute triggered by the meme coin LIBRA event, where Argentine President Milei's promotion in February briefly saw its market value soar to billions of dollars before crashing 90%, being accused of a pump-and-dump scam. The Burwick law firm, specializing in the crypto field, stated that the freeze was in response to their application for a temporary restraining order, while Argentine lawsuit plaintiff Martin Romeo claimed that the freeze was initiated by the Argentine judiciary.