Circle CEO responds to controversy: USDC not frozen in Drift hacking incident due to 'moral dilemma' On April 13th, according to The Block, Jeremy Allaire, CEO of Circle, stated that Circle will not freeze USDC wallets unrelated to legal proceedings. At a press conference in Seoul, South Korea on Monday, Allaire responded to ongoing online criticism about whether the company should freeze USDC funds in the hacking and vulnerability incident. The controversy became more prominent at the beginning of this month: the decentralized financial protocol Drift suffered an attack worth approximately $280 million, which is believed to be related to a 6-month long attack carried out by complex social engineering methods and may involve North Korean related hacker groups. Renowned on chain analysts, including on chain investigator ZachXBT, publicly criticized Circle for not freezing approximately $230 million in USDC funds. These funds are reportedly transferred from Solana to Ethereum through Circle's cross chain transfer protocol.