According to BlockBeats, on April 13, The Block reported that Circle CEO Jeremy Allaire stated that Circle will not freeze USDC wallets that are not involved in legal proceedings.
At a press conference in Seoul, South Korea, on Monday, Allaire responded to ongoing online criticism regarding whether the company should freeze USDC funds in connection with hacking and vulnerability incidents.
The controversy became more prominent earlier this month when the decentralized finance protocol Drift suffered an attack worth approximately $280 million, which is believed to be related to a six-month-long attack carried out using sophisticated social engineering techniques and possibly involving North Korean-related hacking groups.
Prominent on-chain analysts, including on-chain investigator ZachXBT, have publicly criticized Circle, accusing it of failing to freeze approximately $230 million in USDC funds. These funds were allegedly transferred from Solana to Ethereum via Circle's cross-chain transfer protocol.
