Libra meme coin wallets frozen on Solana
A US court issued a restraining order to freeze stablecoins amid ongoing Libra token litigation.
Two wallets tied to the controversial Libra meme coin team have been frozen. Nearly $58 million in USDC stablecoins on the Solana blockchain are now locked.
The freeze on Solscan affects accounts holding $44.59 million and $13.06 million in USDC, a stablecoin issued by Circle. Major stablecoin issuers like Circle have the authority to blacklist addresses in cases of fraud or legal disputes.
The freeze follows a temporary restraining order from a US federal court, requested by Burwick Law amid ongoing litigation. Argentina’s justice department has also been linked to the legal action, connected to the Libra token promoted by Argentine President Javier Milei.
The token’s rapid rise and fall earlier this year sparked accusations of a pump-and-dump scheme.
Despite the legal troubles, Circle has recently filed for an initial public offering on the New York Stock Exchange, aiming for a $6.7 billion valuation. Meanwhile, Argentina’s task force investigating the scandal was disbanded last week.
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