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ZachXBT’s Circle Files: USDC’s Biggest Compliance Scandal | Coinfeather

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ZachXBT’s Circle Files: USDC’s Biggest Compliance Scandal

Coinpedia16 days ago2 min readBy Rizwan Ansari

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Allegations of Circle's delayed response in freezing stolen USDC funds, totaling over $420 million across multiple incidents, raise significant concerns about the stablecoin's compliance and security framework.
The detailed investigation by ZachXBT, backed by on-chain data, suggests a pattern of inaction by Circle despite possessing the technical capability to freeze assets, potentially impacting market trust in USDC's stability and regulatory adherence.
Traders may re-evaluate their exposure to USDC if concerns about its custodianship and rapid response capabilities in mitigating theft are not adequately addressed by Circle, potentially leading to reduced liquidity or increased scrutiny.

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