On-chain analyst ZachXBT revealed that stablecoin issuer Circle has blacklisted the cUSDC (Confidential USDC) contract of ZAMA, an Ethereum-based privacy protocol. According to him, the action was taken approximately 7 hours ago, freezing about $12.6 million worth of USDC within the contract. ZachXBT explained that the cUSDC contract address is publicly displayed in ZAMA's official documentation and block explorers. However, the specific reason why Circle froze the related USDC has not yet been confirmed. Meanwhile, he also pointed out that in March, Circle froze more than 16 hot wallets related to companies, protocols, and service providers without providing any explanation.
