According to ChainCatcher, citing The Block, 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 have frozen USDC funds in connection with the hacking and vulnerability incident. This controversy gained further traction earlier this month when the decentralized finance protocol Drift suffered a roughly $280 million attack, believed to be linked to a six-month-long attack employing sophisticated social engineering techniques and potentially involving North Korean-linked 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.
