ZachXBT says USDC issuer Circle is greedy and useless
Apparently, Circle took 4.5 months longer than other major companies like Tether and Paxos to block Lazarus Group’s funds after the group stole huge amounts of money in DeFi hacks
ZachXBT, arguably one of the most renowned on-chain sleuths in the world, just went off on USDC issuer Circle and its CEO, Jeremy Allaire. He called them greedy and indifferent to the crypto community’s security. In a Twitter post, he said:
“Fk Circle! Fk Jeremy Allaire! You do not care at all about the ecosystem except extracting from it.”
His deal? Circle’s delayed response in blacklisting stolen funds from hacks and exploits, particularly when it comes to the notorious North Korean Lazarus Group.
Apparently, Circle took 4.5 months longer than other major companies like Tether and Paxos to block Lazarus Group’s funds after the group stole huge amounts of money in DeFi hacks.
Zach wasn’t impressed with Circle’s excuse of virtue-signaling compliance, accusing them of making money off transaction fees while stolen funds flowed through their network.
