ZachXBT Accuses Circle and Jeremy Allaire of Failing to Freeze USDC During Exploits

May 14, 2026

< 1 min read

by Izabela Anna

for CoinEdition

ZachXBT Accuses Circle and Jeremy Allaire of Failing to Freeze USDC During Exploits

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Blockchain investigator ZachXBT accused Circle and CEO Jeremy Allaire of slow USDC freeze responses and warned that an eight or nine figure exploit in Hyperliquid’s core or the HyperEVM ecosystem could expose major security and systemic risk for crypto and DeFi adoption. Meanwhile Circle expanded USDC integrations and plans to stake 500,000 HYPE tokens this year as HYPE gained 6% in a day with trading volume topping $332 million, presenting mixed signals for token adoption and market confidence.

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ZachXBT questioned Circle’s response speed during major Hyperliquid exploit events.
Circle expanded USDC integration and plans to stake 500,000 HYPE tokens this year.
HYPE gained 6% daily as trading volume topped $332 million despite criticism online.

Blockchain investigator ZachXBT raised concerns about Circle Internet Group and CEO Jeremy Allaire after the company expanded its relationship with Hyperliquid. The criticism focused on Circle’s history of handling major exploits involving USDC freezes.

ZachXBT argued that Circle promotes support for crypto communities during growth periods. However, he questioned whether the company would act quickly during a large-scale security incident. He specifically pointed to a potential eight or nine-figure exploit affecting Hyperliquid’s core infrastructure or HyperEVM ecosystem.

The comments surfaced shortly after …

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