An American federal courtyard has frozen about $ 57.65 million in the USDC in Stablecoin in a case of collective appeal on the controversial memecoin balance.
Onchain data shared with Cintelegraph by the lawyer for the class group, Max Burwick, show that nearly $ 57 million from the USDC (USDC) were frozen on May 28 after a Manhattan court accepted a temporary frost.
“Yesterday, a Federal Court of SDNY [Southern District of New York] Entered a temporary ban prescription at our request, Burwick Law, supported by Tim Treanor, freezing around 57.65 million USDC held in a circle, “Burwick told Cointelegraph.
He added that the court should hold an hearing on June 9 to determine if the assets will remain frozen as the collective appeal is progressing.
Burwick represents Omar Hurlock and other complainants in a lecture combination against the Venture Crypto Kelers Ventures company and his three co-founders of brother, Gideon, Thomas and Hayden Davis, on March 17, alleging that they created the cryptocurrency of the balance (balance) and investors coated with siphon from unilateral alcohol.
The trial also named Blockchain Infrastructure Companies, Kip Protocol and his CEO, Julian Peh, as well as Meteora and his co -founder, Benjamin Chow, as defendants.
Chow lawyer, Kelier Ventures and the KIP protocol were contacted for comments.
The balance reached a market capitalization of $ 4 billion following an X post by Argentinian president Javier Milei on February 14 before crashing 94% of hours later.
The saga caused a political scandal of Milei, encouraging members of the Argentine opposition party to call its dismissal, although little traction has been acquired beyond these declarations.
The data from the Zuban Córdoba survey platform in March suggested that the balance scandal had a negative impact on the image of Milei and the approval rating of national management.
Two Solana portfolios with total USDC sales worth 57.65 million dollars were frozen on May 28 at 3:15 a.m. and 3 h 18 UTC.
The data from the Solana’s Blockchain Explorer, Solscan, show that the address “3FWR … ZQPK” had $ 44.59 million from Stablecoin Frozen, while a little more than $ 13 million was frozen from the “3nhw … XNGH” portfolio.
The two portfolios were frozen by the multisig gel authority, according to Solscan data.
Milei ends the investigation balance in Argentina
On May 19, Milei signed a decree to close a working group established to investigate the scandal of the balance.
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No measure was taken against Milei or any other Argentinian official who would have been linked to the scandal.
However, some criticisms say that a legitimate investigation has not been properly conducted in the first place.
“It was always a false, they never dared to investigate anything, and they cover each other because they are completely up to their necks,” said Itai Hagman, economist and member of the House of Deputies of Argentina, in a position of May 20.
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