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ZachXBT: Circle claims that "acting in accordance with the law" is the reason for freezing, but fabricating it themselves, and the 6-hour delay in the Drift incident is inexcusable.
ME News Report, April 13 (UTC+8), on-chain investigator ZachXBT responded to discussions about the USDC freezing issue, stating that there are no regulations prohibiting issuers from proactively freezing funds. The claim by Circle that they are “acting in accordance with the law” is fabricated and contradicts their service terms. ZachXBT provided screenshots showing that Circle’s terms explicitly reserve the right to freeze funds. ZachXBT stated that he agrees that the freezing right should not be abused for indirect tracking or similar scenarios, but in the case of Drift Protocol, an event that impacts the entire ecosystem, delaying action for 6 hours after transferring over $230 million is truly unforgivable. (Source: Foresight News)