According to on-chain detective ZachXBT, his compilation of the "USDC Files" shows that since 2022, Circle has failed to take timely action to freeze some funds in at least 15 incidents involving illegal funds, totaling over $420 million. Specific cases include: in the 2026 Drift attack, the attacker transferred approximately 230 million USDC via CCTP cross-chain and was not frozen for about 6 hours; in the 2026 SwapNet attack, about 3 million USDC remained in the address for two days without being addressed; in the 2025 Cetus attack, approximately 61 million USDC was only blacklisted a month after cross-chain transfer. Additionally, in incidents involving Nomad, Mango Markets, Ledger supply chain attacks, and GMX, there were cases where USDC was freezeable but not promptly executed.

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