USDC Assets Worth $57M Frozen in LIBRA Lawsuit
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A US federal court has frozen $57.65 million in USDC stablecoins tied to the LIBRA memecoin scandal. The freeze, executed on May 28, follows a temporary restraining order from the Southern District of New York (SDNY).
Burwick Law, representing plaintiffs Omar Hurlock and others, confirmed the action and stated that a June 9 hearing will review the freeze. The lawsuit alleges that Kelsier Ventures and its founders deceived investors, siphoning over $100 million via fraudulent liquidity pools.
Blockchain firms KIP Protocol and Meteora, along with their executives, are also implicated in the case.
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