New York Court Orders Circle to Maintain Freeze on $63 Million in Multichain-Linked USDC

A U.S. bankruptcy court has directed Circle to keep three Ethereum wallets holding approximately $63 million in stolen USDC frozen, supporting Singapore-based liquidators managing the Multichain Foundation collapse. Judge David S. Jones issued the provisional order under Section 1519 of the U.S. Bankruptcy Code on Thursday. The order prevents any movement of funds tied to the July 2023 exploit that drained over $210 million from the cross-chain bridge protocol.