Circle Freezes Wallets Linked to Controversial Libra Memecoin Scandal

Circle, a major stablecoin provider, has taken action by freezing two wallets associated with the ongoing Libra memecoin scandal. These wallets hold approximately $57.6 million in USDC, according to reports from Arkham Research. One of these frozen wallets holds about $44.59 million, while the wallet linked to the original Libra project contains around $13 million in USDC. Circle has the authority to restrict token transfers during legal investigations or security breaches. However, details surrounding who requested this freezing remain unclear and have sparked debate online.