PANews reported on April 13th that ZachXBT , a blockchain expert, stated during discussions with traders and commentators regarding USDC freezing authority that there are no regulations prohibiting USDC issuer Circle from freezing related funds after a hacking attack. He called the claim that "the issuer cannot freeze funds" "fabricated" and contradicted Circle's terms of service which reserve the right to freeze funds. ZachXBT believes that Circle 's failure to freeze over $ 230 million in funds within approximately six hours following a major security incident affecting the Drift Protocol ecosystem is "unacceptable," but also emphasized that freezing authority should not be abused based solely on indirect on-chain connections.