ZachXBT's Critique on USDC Issuer Circle: Greed and Ineffectiveness
Circle's Delay in Action
Circle, the issuer of USDC, took an alarming 4.5 months longer than competitors to blacklist funds linked to the notorious North Korea's Lazarus Group. This inaction raises serious questions about their priorities in the cryptocurrency market.
Implications for Cryptocurrency Security
The Lazarus Group has been responsible for billions in stolen crypto assets. ZachXBT's statements point to significant deficits in *Circle’s responses to threats* that undermine trust in the stability of USDC. Cryptocurrency issuers must prioritize security over profit to maintain market integrity.
- Industry Trust: Trust in cryptocurrency is fragile.
- Competitors’ Responses: Other issuers acted quickly to mitigate risks.
- Security Practices: Improved practices are essential.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.