CONTROVERSY3h ago
Zachxbt Accuses Circle Of Freezing Legitimate Wallets While Missing Real Hacks
Onchain investigator @zachxbt published a detailed thread accusing @circle of compliance failures tied to more than $420 million in illicit USDC flows the firm failed to freeze since 2022.
In the @DriftProtocol exploit attributed to North Korea's Lazarus Group, attackers bridged over 232 million USDC using Circle's own infrastructure across six hours during US business hours with no freeze.
Meanwhile, Circle froze 16 legitimate business wallets in a March 2026 civil case.
ZachXBT said he personally holds USDC but questioned whether Circle's compliance priorities match the losses the crypto ecosystem absorbs from delayed action.
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