Circle, the issuer of USDC stablecoin, has frozen four Ethereum Virtual Machine (EVM) addresses linked to recent theft from Coinbase. This action came after intelligence revealed these wallets were used in a suspected attack that profited through buying Ethereum following the breach. Blockchain investigator ZachXBT criticized Circle’s response as ineffective. Circle confirmed the freezing but noted the move was precautionary, citing funds originated from a Coinbase-related theft where attackers made profits by purchasing $ETH. Further analysis suggests these funds were initially held in DAI before being exchanged for USDC and subsequently moved to new addresses.