The article discusses how Circle, the issuer of the USDC stablecoin, has been slow in cooperating with the recovery of funds from the Bybit exchange hack. The funds held in USDC can be frozen by Circle, but the addresses with the stolen funds are still able to transact, allowing the hackers to potentially launder the funds. The on-chain investigator ZachXBT has raised concerns about the delay in recovering the stolen funds and has called attention to Circle's responsibility in controlling the losses. Despite the potential to freeze funds, bad actors still continue to use stablecoins like USDC. Other crypto protocols and projects have taken action to freeze funds linked to the hack where technologically possible.



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