Libra Meme Coin Scandalwhose relationship with Argentine President Javier Mairi shook the cryptocurrency market and global politics earlier this year.
The USDC accounts belonging to two wallets tied to the Libra Meme Coin team and token deployers were frozen on Tuesday, locking $58 million worth of Stablecoins in Solana.
Accounts tagged as frozen Solana Block Explorer Solcan, Maintenance $44.59 million and $13.06 million At USDC, Stablecoin Issued by a circle that is fixed at the value of US dollars.
Alert: $57 million USDC related to Circle-frozen Libra
The two Libra accounts have just been frozen in a circle containing the Libra Deployer Wallet.
These accounts include a total of $57 million in USDC, but are now still in motion. pic.twitter.com/hpmam5hwvj
– Arkham (@arkham) May 28, 2025
The creation and issuance of USDC Stablecoin is controlled by Circle, so the company can freeze or “blacklist” the tokens Follow the blacklist policy. Major Stablecoin publishers such as Circle and Tether are known to blacklist addresses when connected to major exploits, such as $1.4 billion. Bybit’s hack return February.
The circle didn’t respond immediately Decrypt’s Request a comment. At this time, it is unclear who exactly requested the freeze, taking multiple parties to X to claim credit.
The Berwick Law, a law firm that focuses on codes, is freezing. Temporary restraint order It was issued on request. Meanwhile, Martin Romeo, plaintiff in the Argentine case around Libra tokens, who was famously promoted by President Javier Mailey, said the freeze was the result. Request from Argentina’s Ministry of Justice.
“Yesterday, the SDNY federal court issued a temporary restraining order in response to our request. The Berwick Act, supported by Tim Trenore, frozen approximately 57.65 million USDC held in the circle. Decryption. “On June 9, 2025, we will return to court for a preliminary injunction hearing to continue to freeze these assets the rest of this case.”
Berwick I filed a class action lawsuit earlier For each role, including the nominated executives of the parties, against Kelsier Ventures and Meteora. Libra Token Scandal.
Solana-based Libra Token, which President Milei promoted at the launch of X in February, quickly shocked its billion-dollar market capitalization, then plummeted nearly 90%, leading to a pump-and-dump scheme accusations as the token-connected wallet is connected to profits.
$ Libra team cashed out
They have already made $87 million by removing USDC and SOL from the liquidity pool https://t.co/hrgnrptdie pic.twitter.com/aidmodki6o
– Bubblemaps (@bubblemaps) February 15, 2025
After that, President Miley was He was charged with fraudand the government has established a task force to investigate the issue. that The task force has been discarded last week.
The circle submitted it on Tuesday That first public offer (IPO) The New York Stock Exchange aims to value $6.7 billion.
Edited by Andrew Hayward