Circle Freeze Hits Zama-Linked cUSDC Contract, Trapping User Funds

A court-ordered restraining order pushed Circle to blacklist Zama's cUSDC wrapper on Ethereum. The privacy protocol is not a defendant but every depositor in the pooled contract is locked out alongside the targeted funds.

Circle blacklisted a publicly labeled Ethereum smart contract tied to Zama’s privacy protocol on Saturday, freezing approximately $12.6 million in USDC following a U.S. federal court order connected to a civil lawsuit against Overnight Finance founder Maxim Ermilov. Circle’s Zama Blacklist Freezes $12.6M, Raising Questions About USDC Use in DeFi Contracts The frozen address, 0xe978F22157048E5DB8E5d07971376e86671672B2, […]

The post Circle Freezes $12.6 Million in Confidential USDC, Exposing Surveillance Risks appeared on BitcoinEthereumNews.com. Circle blacklisted Zama’s confidential USDC contract on Ethereum on May 30. The blacklist freezes roughly $12.6 million held in a cUSDC token contract. The freeze prevents holders of confidential USDC (cUSDC) from redeeming the tokens for standard USDC. The action raises fresh questions about issuer control over privacy-focused Decentralized Finance (DeFi) protocols. Circle Blacklist Halts cUSDC Redemptions Circle, the issuer of USDC, maintains a built-in blacklist on the USDC smart contract. Authorized Circle accounts add addresses, and blacklisted addresses cannot send or receive the stablecoin. The frozen contract is an ERC-1967 proxy that holds USDC on behalf of cUSDC token holders. Zama’s privacy protocol uses fully homomorphic encryption (FHE) to conceal balances and transfer amounts on public chains. Circle blacklisted the Zama (privacy protocol) Confident

The post Cash App USDC Rollout: Stablecoins Hit Payments appeared on BitcoinEthereumNews.com. Stablecoins are graduating from crypto exchanges into the apps people already use to move money. With Cash App rolling out support for USD Coin (USDC), the line between traditional fintech and on-chain dollars is thinning fast. This guide explains what Cash App’s USDC move could mean for users, merchants, and the wider payments stack. You’ll learn how it works, which networks matter, how fees compare with cards and bank rails, and where the biggest risks hide. Whether you plan to send money to friends, pay a creator, or move funds between apps and exchanges, understanding stablecoins inside everyday wallets will help you avoid costly mistakes. Quick Answer Cash App’s USDC rollout signals that mainstream wallets are embracing tokenized dollars for faster, cheaper, and more interoperable transfers. In practice, users get a stable, dollar-pegged balance that can often move near-instantly across s

The incident highlights the inherent risks of relying on centralized entities in DeFi, impacting user trust and market stability. The post Circle freezes Zama’s USDC contract, locking $12.6M amid rug pull allegations appeared first on Crypto Briefing.

Arc's development could revolutionize financial systems by enabling AI-driven microtransactions, potentially reshaping global economic interactions. The post Circle launches Arc blockchain to power the agentic economy with programmable real-time rails appeared first on Crypto Briefing.

Circle's Arc blockchain aims to future-proof USDC against quantum threats, potentially setting a new standard for secure digital finance. The post Circle explores Arc’s post-quantum security roadmap for USDC appeared first on Crypto Briefing.

NEAR’s private USDC payments and FET’s Agent Launchpad fueled rallies as profit‑taking climbed, per Glassnode. Practical ways to judge if the AI token bid can last.