Circle Freezes $57 Million in USDC Tied to Libra Memecoin Scandal

In a move that deepens the fallout from the controversial libra memecoin scandal, Circle, the issuer of USD Coin (USDC), has frozen almost $58 million worth of USDC tied to the project. This action follows blockchain analytics firm Arkham’s report highlighting the involvement of two Solana wallets linked to the Libra deployer and project team in this case.