Circle Freezes 16 USDC Wallets, Disrupting Multiple Businesses

• Circle froze 16 USDC hot wallets, disrupting daily operations across businesses.
• The freeze affected exchanges, casinos, and forex firms, with no direct links between them.
• The move raised concerns over Circle’s review process and due diligence before action.

Crypto firms faced sudden disruption after Circle froze 16 USDC hot wallets, impacting routine operations. On-chain investigator ZachXBT reported that these wallets handled thousands of transactions. Companies affected say the freeze is connected to an ongoing U.S. civil case, though further details have not been released.

Hot Wallet Freeze Raises Operational Concerns

A hot wallet acts as a business’s main hub for processing crypto transactions. By freezing these wallets, Circle stopped normal operations, raising questions about how carefully the decision was reviewed. Lawyers, forensic teams, and even …

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