Circle is at it again, and this time they went straight for @zama. About 7 hours ago, @circle unexpectedly added Zama's cUSDC contract address to the blacklist, freezing $12.6M worth of user USDC funds, making them unable to transfer. Saw it in @zachxbt's Telegram group and immediately shorted it—made enough for a plate of pork rice. This kind of centralized blacklisting by Circle is honestly pretty scary. While they do have a public policy, like the official Access Denial Policy, which states: Cybersecurity/Integrity Threats (Circle's own judgment): For example, security vulnerabilities, privileged keys (like minter private keys) being leaked, leading to unauthorized USDC issuance, etc. Legal/Regulatory Requirements (mandatory compliance): In line with laws, regulations, or court orders from authorized agencies in the U.S. or France. Includes: OFAC sanctions, law enforcement requests (can freeze funds in emergencies pending formal court orders), national security threats, etc. Circle can challenge unreasonable orders. Other: Certain urgent law enforcement requests (pending court orders), sanction-related activities, etc. But Circle doesn’t promise to always disclose the reasons for blacklisting, and they have a lot of discretionary power. They’ve always been criticized by the community for being lenient on obvious hacker activities while hitting hard on requests from powerful authorities. With Zama as an example, I bet projects using USDC will think twice moving forward. Maybe USDT feels safer