Circle Freezes $57M of USDC Linked to Libra Scandal - Unchained

2025-05-29 06:09:30

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Circle, the issuer of the USDC stablecoin, has frozen around $57 million of USDC in Solana wallets associated with the team behind Argentina’s pump-and-dump LIBRA token.

Circle took the step in response to a Argentinian court order amid ongoing legal disputes and following steep investor losses after the LIBRA token’s collapse. The order came from Judge Sandra Arroyo Salgado at the request of victim and investor Martin Romeo, who is suing the LIBRA team.

The freeze targeted two main Solana addresses tagged as “Libra” and “Libra Deployer,” which hold $44 million and $13 million of USDC, respectively.

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Circle has the authority to freeze USDC on all supported blockchains, including Solana, by design. The latest freeze is one of the biggest the stablecoin issuer has executed to date.

Circle has blacklisted a total of $98.3 million of USDC across 292 wallet addresses, according to data compiled by pseudonymous analyst @phabc on Dune Analytics.

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