US court freezes $57M USDC allegedly linked to LIBRA scandal

A Manhattan federal court has frozen $57 million worth of USDC allegedly tied to the controversial Libra memecoin.

A US federal court has frozen around $57.65 million worth of the stablecoin USDC in a class action case over the controversial Libra memecoin.

Onchain data shared with Cointelegraph by the class group’s lawyer, Max Burwick, shows nearly $57 million worth of USDC (USDC) was frozen on May 28 after a Manhattan court agreed to a temporary freeze.

“Yesterday, a federal court in SDNY [Southern District of New York] entered a Temporary Restraining Order at our request, Burwick Law, supported by Tim Treanor, freezing approximately 57.65 million USDC held at Circle,“ Burwick told Cointelegraph.

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