BlockBeats News, May 30th - On-chain analyst ZachXBT revealed that approximately 7 hours ago, the USDC issuer Circle allegedly blacklisted the privacy protocol Zama's confidential USDC (cUSDC) contract address on the Ethereum network. As a result, around $12.6 million in funds within that contract are currently frozen, and the related assets cannot be transferred or used temporarily.

As of now, Circle and Zama officials have not yet issued a detailed explanation regarding this matter.