ZachXBT: Circle blacklists Zama cUSDC contract address, freezing approximately $12.6 million in funds.

CoinFeed reported on May 30th that blockchain investigator ZachXBT revealed on his personal channel that Circle blacklisted the confidential USDC (cUSDC) contract address of its privacy protocol Zama on the Ethereum network approximately 7 hours ago, resulting in the freezing of approximately $12.6 million in funds. The reason for the freeze is unknown. However, ZachXBT previously stated in March 2026 that Circle had frozen more than 16 hot wallets, involving enterprises, protocols, and services, but provided no transparency whatsoever.