$73B stablecoin issuer Circle is facing criticism after U.S. law enforcement officials in Wisconsin and New York accused the company of refusing to help return stolen USDC to scam victims.
Circle says it complied with freeze orders when legally required but lacked the technical ability to invalidate and reissue the stolen USDC.
Critics dispute that explanation, pointing out that Tether has previously burned stolen USDT and reissued new tokens to assist law enforcement.
The case is likely to reignite the debate over how much responsibility stablecoin issuers should have in protecting users.
Should stablecoin issuers be required to help recover stolen funds?
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