Circle blacklists Zama's cUSDC contract, freezes $12.6M, ZachXBT says

On-chain analyst ZachXBT said stablecoin issuer Circle has blacklisted the cUSDC (Confidential USDC) contract for ZAMA, an Ethereum-based privacy protocol. According to the analyst, the move, which occurred about seven hours ago, has frozen approximately $12.6 million in USDC within the contract. ZachXBT explained that the contract address is publicly listed in ZAMA's official documentation and on block explorers. The specific reason for the freeze has not yet been confirmed. He also pointed out that in March, Circle froze more than 16 hot wallets belonging to various companies, protocols, and service providers without explanation.