US EditionUS Court Freezes $57M USDC Allegedly Linked to LIBRA Scandal
- A U.S. Federal court froze approximately $57.65 million in USDC tied to two Solana wallets associated with the Libra memecoin on May 28, 2025.
- The freeze followed a class-action lawsuit filed in March 2025 against Kelsier Ventures and its co-founders over alleged investor deception and siphoning of funds from the Libra token.
- The Libra token was launched in February 2025 and quickly surged in value to achieve a market valuation exceeding $4 billion following promotion by Argentine President Javier Milei, but it then collapsed by more than 90%, sparking a political controversy and substantial losses for investors.
- Circle, the issuer of USDC, used its multisignature freeze capability to lock the tokens amid ongoing legal proceedings, with Burwick Law confirming the freeze through a Temporary Restraining Order granted by a federal court in Manhattan.
- The asset freeze is intended to halt further financial damage and safeguard the possibility of restitution for those affected, while the upcoming June 9 hearing will decide whether the freeze continues throughout the lawsuit, potentially establishing a legal benchmark for accountability in the cryptocurrency sector.
22 Articles
22 Articles
At the Request of the Justice of the United States, a Platform Froze Two Virtual Wallets Linked to the Case for $LIBRA
One is the account creating the digital asset, which is presumed to be from the businessman Hayden Davis; the other was part of the profits after the collapse
Case $LIBRA: Nearly $60 Million in Cryptoactive Hayden Davis-Related Assets Frozen but Almost Half of Them Are Missing
They were in two crypto wallets that participated in the launch of the token and had received profits after the collapse.The rest is in a currency that is not reached by the measure.Argentine criminals and a Belarusian who lost more than $1 million among those affected.
LIBRA Token Fallout: Court Blocks $57.65M in USDC Linked to Kelsier Ventures
A US federal court has ordered the freezing of approximately $57.65 million in USDC linked to the embattled LIBRA meme coin. The latest development is a significant move in an ongoing class-action lawsuit targeting alleged fraud. The freeze, executed on May 28 via a Temporary Restraining Order (TRO) issued by the Southern District of New York, affects two Solana-based wallets tied to Kelsier Ventures – the firm behind LIBRA’s controversial launc…
US Court Blocks $57M in USDC Amid LIBRA Token Controversy - BTC Ethereum Crypto Currency Blog
A US federal court has frozen approximately $57.65 million worth of USDC stablecoins in connection with a class action lawsuit linked to the LIBRA token scam that took place a couple of months ago. On 28 May 2025, the US District Court for the Southern District of New York issued a Temporary Restraining Order that froze the assets. The amount will remain frozen till June 9th, when a hearing is scheduled to determine if the freeze will remain in …
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