Circle Freezes $58 Million USDC Linked to LIBRA Memecoin Scam

Circle has frozen nearly $58 million worth of USDC linked to the recent collapse of the LIBRA memecoin scheme. Blockchain analytics firm Arkham revealed this action, indicating that two Solana wallets associated with the project’s deployer and team are affected. This freeze follows a class-action lawsuit filed in March by investors who claim they were tricked into purchasing the token, which allegedly orchestrated a pump-and-dump scheme.