CryptoWorld News reports that, according to on-chain investigator ZachXBT, approximately 7 hours ago, Circle blacklisted the confidential USDC (cUSDC) contract address of the privacy protocol Zama on the Ethereum network.


This move has resulted in approximately $12.6 million worth of user funds within that contract being frozen.
ETH-0.81%
ZAMA-7%
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OpcodePoet
· 6h ago
The blacklist mechanism is like the Damocles sword hanging over DeFi.
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ThereAreCatsInTheContract.
· 7h ago
So-called confidential transfers are essentially useless in centralized issuance.
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MintConditionHuman
· 7h ago
Users put in real money, and Circle can reset everything to zero with one click—that’s the confidence behind compliant stablecoins.
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DoNotTouchTheLiquidationLine.
· 7h ago
Is the Zama team currently looking for a lawyer or a new blockchain?
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MoonlightShellPool
· 7h ago
The blacklist feature exists for a day, and USDC will never truly be DeFi.
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MempoolDaydream
· 7h ago
Regular users suffer the most; their money just disappears for no reason.
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BluePeonyMinerDream
· 7h ago
The compliance pressure on Circle has finally extended to privacy policies.
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DustCollector7
· 7h ago
This case is worthy of being included in textbooks: Why DeFi needs truly decentralized stablecoins
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GoldfishUnderTheIce
· 7h ago
If USDC on Ethereum gets blacklisted, what about other chains?
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SaveABitOnGasFees
· 7h ago
12.6 million dollars frozen, the project team is probably now going bald.
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