ZachXBT: Circle Freezes USDC Balance on 16 Business Hot Wallet Addresses Due to Civil Case
By: theblockbeats.news|2026/03/24 16:58:57
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BlockBeats News, March 24th, on-chain sleuth ZachXBT posted that "Circle Internet Financial froze the hot wallet balances of 16 enterprises last night, involving multiple different businesses. I have directly communicated with one of the affected enterprises, and they indicated that this freeze was due to an ongoing U.S. civil case, but specific details have not been disclosed. I analyzed on-chain activities, and these exchange platforms and forex businesses seem to have no apparent connection to each other."
"Crypto companies typically use hot wallets to process the majority of user transactions. An analyst using fundamental analysis tools could identify these wallets as operational wallets processing significant transactions within minutes. However, today these enterprises' operations have been adversely affected by decisions from Circle, legal teams, investigative agencies, and the court."
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