What happened to $USDC ?


CRCL stock down 17% today .
Circle froze the USDC balance of 16 hot wallets for various businesses late yesterday.
The wallets frozen due to an ongoing US civil case whose details are not yet disclosed.
Someone reviewed the onchain activity and the exchanges, casinos, forex businesses do not appear to be related at all to each other.
For those unfamiliar a crypto business has a hot wallet to process the bulk of transactions for its users.
An analyst with basic tools could have identified within minutes that these were operational business wallets from the thousands of transactions they process.
Now their business operations have been negatively impacted by Circle, Lawyer, Forensics firm, & Judge
Rain[.]gg
0x87d18ee84e8f4f5709cbf3500179a4c601da12ce
Clash[.]gg
0x9e2a58d257963a276452fff1be94c0eb7e2775cc
Many other wallet tracked too which is not mentioned here
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dragon_fly2vip
· 3h ago
To The Moon 🌕
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dragon_fly2vip
· 3h ago
Ape In 🚀
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dragon_fly2vip
· 3h ago
LFG 🔥
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