Circle Faces Backlash From Crypto Community: Why? 😱📊⚠️✅👇👇

Circle, the issuer of USDC, is facing serious allegations after investigator ZachXBT accused it of exploiting transactions linked to the North Korean hacker group Lazarus. 🩸🩸

ZachXBT, who is known for his investigative work in the Web3 space, took to social media platform X to criticize Circle and its CEO Jeremy Allier. The criticism came in response to the company’s failure to blacklist wallets involved in illicit activities in a timely manner. 🩸🩸

According to ZachXBT, Circle delayed blacklisting funds linked to the Lazarus group by 4.5 months compared to other major stablecoin issuers. He also expressed his frustration that Circle did not take any action to prevent the group from using its platform for money laundering. ⚠️🩸🩸

ZachXBT accused the company of deliberately delaying action after exploiting DeFi “while continuing to profit from the transactions.” The accusations come after USDT, along with other stablecoin issuers, blacklisted two wallet addresses linked to the Lazarus Group. $USDC 🩸🩸🔔✅