Circle refuses to assist in recovering stolen USDC, sparking discontent among prosecutors in Wisconsin and New York

Odaily Odaily News Prosecutors in Wisconsin and New York have expressed dissatisfaction with stablecoin issuer Circle, citing its repeated refusal to cooperate with law enforcement in recovering stolen funds.

According to reports, multiple law enforcement agencies have requested Circle to help victims of fraud and hacking recover losses by burning and reissuing USDC. However, Circle has refused these requests based on its own policy stance.

Circle stated that modifying the blockchain ledger to reverse transactions would undermine the fundamental attributes of the USDC stablecoin and could set a dangerous precedent for the entire crypto industry. This incident highlights the conflict between blockchain's immutability and law enforcement's need for asset recovery. (Protos)