USDC Under Fire for Compliance Failures

ZachXBT accuses Circle of $420M in 'compliance failures' since 2022

Circle had several hours or days to freeze illicit USDC funds in many of the 15 cases presented, but failed to act, according to ZachXBT.

Circle Defends Limited Role in $285 Million Crypto Hack, Citing Legal Boundaries

Circle is facing criticism from parts of the crypto community after hackers drained about $285 million from the Solana-based Drift protocol, most of which was quickly converted into USD Coin (USDC) and transferred to Ethereum. Blockchain investigator ZachXBT alleged Circle could have acted faster to freeze the stolen assets and limit losses.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).2/ Circle operates U…

Circle’s $420M Compliance Crisis: ZachXBT Exposes Massive USDC Scandal

On-chain investigator has revealed a series of regulatory complacency in Circle where it failed or delayed freezing illicit funds.

USDC Under Fire for Compliance Failures

The post USDC Under Fire for Compliance Failures appeared on BitcoinEthereumNews.com. ZachXBT, a respected figure in cryptocurrency investigations, has issued a serious warning about the stability and compliance of USDC, a leading stablecoin. This digital asset, traditionally seen as reliable thanks to its regulatory adherence, is now under scrutiny due to allegations of significant lapses in compliance by its issuer, Circle. Continue Reading:US…

Circle let over $440 million in stolen USDC move freely, ZachXBT says

Circle's compliance gaps could undermine trust in USDC, prompting investors to reassess stablecoin safety and market dynamics. The post Circle let over $440 million in stolen USDC move freely, ZachXBT says appeared first on Crypto Briefing.