Circle Freezes USDC in 16 Crypto Business Hot Wallets, ZachXBT Says
ZachXBT said Circle has unfrozen one of the 16 business hot wallets linked to USDC that were frozen on March 23, while 15 wallets tied to brokers and casinos remain restricted.
USDC
Fact Check
The event is documented by reputable crypto news outlets (crypto.news and PANews) reporting on the same day (March 24, 2026). Both sources provide consistent details regarding the number of wallets (16), the types of businesses affected (exchanges, casinos, forex), and the legal justification (a sealed U.S. civil case). The reports are based on public disclosures by the well-known on-chain investigator ZachXBT.
Summary
Circle has unfrozen one of the 16 business hot wallets linked to USDC that had previously been frozen, according to blockchain investigator ZachXBT, who confirmed the change on March 26. The wallets were frozen on March 23, and 15 remain frozen. ZachXBT said the affected wallets included forex brokers such as FxPro and Pepperstone, as well as casinos including 500Casino. Earlier reporting had linked the broader freeze to an undisclosed U.S. civil lawsuit, though the case remains sealed and the amount of USDC affected has not been disclosed.
Terms & Concepts
- USDC: A U.S. dollar-pegged stablecoin issued by Circle that can be transferred on blockchains and may be frozen by the issuer under certain circumstances.
- Hot wallet: A cryptocurrency wallet connected to the internet and used for active transactions, often by businesses for operational liquidity and frequent transfers.