100,000 USDCs Frozen: Decentralization Raises


The freezing of 100,000 USDC by Center once again brought up the fact that this is not central.

Known as the company behind USD Coin , one of the leading stablecoins , Center announced that they had frozen an Ethereum user’s wallet in a recent announcement. Stating that they did this for the first time, Center officials stated that the user’s wallet is worth USD 100,000.

The crypto markets remained in a dilemma as to whether this would harm decentralization after increasing demand and stablecoin. Others pointed out that actions like this could be done for law enforcement officers in most of these new stablecoins, while another segment emphasized that this would never happen.

$ 100,000 Wallet Address Frozen

However, in a statement made by the Center, it was stated that USDC worth 100.000 dollars was frozen at the request of law enforcement officers. The owner of the address can no longer deposit funds or withdraw their funds in any way. Although Center has confirmed this blacklisting event, it has not yet revealed the reasons for it.

A Twitter user said in a statement about the subject that the owner of the blacklisted wallet address had stolen 10,000 Loopring from him. The approximate value of the crypto coin in question corresponds to 750 Euros, and for this the freezing of the $ 100,000 wallet address was seriously reacted.

The Center consortium includes Circle and the famous cryptocurrency exchange Coinbase. This allows the stock exchange to freeze accounts of its users directly.

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