Circle unfreezes a single-civil litigation-related wallet after previous bulk-freeze criticized as unprofessional

BlockBeats News, March 26: On-chain detective ZachXBT pointed out that Circle has unfrozen a USDC balance in a previously frozen wallet. The wallet associated with Goated「.」com, address "0x61f…e543," has regained access to its USDC balance, currently holding 130,966 USDC. ZachXBT also noted that other affected wallets may be unfrozen in the "near future."

Recently, Circle froze the USDC balances of 16 hot wallets belonging to multiple enterprises. This freeze was related to a U.S. civil lawsuit case with undisclosed details. ZachXBT had previously stated that these wallets involved in exchange platforms, forex, and other businesses had no apparent connection to each other, questioning Circle's lack of thorough review of the freeze request. The wallets in question are operational hot wallets used by businesses to process a large number of user transactions, and the freeze has impacted their daily operations.

ZachXBT also noted, "The New York civil case is under seal and has provided absolutely no grounds to freeze all business addresses, potentially the most unprofessional freeze action I have seen, which is the result of outsourcing freeze decisions to any random federal judge rather than establishing their own processes."