Svmuu News “On-chain detective” ZachXBT posted, stating that stablecoin issuer Circle blacklisted the Confidential USDC (cUSDC) contract of privacy protocol Zama on Ethereum approximately 7 hours ago, resulting in the freezing of approximately $12.6 million USDC within the contract.
ZachXBT noted that this cUSDC contract is publicly labeled in Zama's official documentation and on block explorers. The specific reason for Circle freezing the related USDC is currently unknown. ZachXBT also pointed out that in March 2026, he disclosed that Circle had frozen over 16 hot wallet addresses belonging to enterprises, protocols, and service providers without providing transparent explanations.