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#USDC
Circle CEO explains why the company did not freeze USDC after the Drift hack
On April 13, according to The Block, Circle CEO Jeremy Allaire stated that the company would not freeze USDC wallets unless they are involved in legal proceedings. During a press conference in Seoul, he responded to community criticism following the attack on the DeFi protocol Drift, which resulted in the theft of approximately $280 million and is believed to have lasted about six months, potentially linked to North Korean hackers. Analysts, including ZachXBT, criticized Circle for not freezing around $230 million in USDC that was reportedly transferred from Solana to Ethereum via the Circle Cross-Chain Transfer Protocol.