Circle’s USDC Freeze Authority Draws Scrutiny After Wallet Blocks During Theft
The source says Circle’s ability to freeze USDC (U.S. dollar-pegged stablecoin) is being questioned after some wallets were blocked while stolen funds continued moving.
USDC
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Terms & Concepts
USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a 1:1 value with the dollar.
Stablecoin: A cryptocurrency designed to track a reference asset, commonly a fiat currency such as the U.S. dollar.
Wallet: A blockchain address or application used to hold, send, and receive digital assets.