In a major move against crypto fraud, a US court has frozen $57.65 million in USDC tied to the controversial LIBRA memecoin.
The freeze, enacted on May 28, comes after plaintiffs accused Kelsier Ventures and its founders of running a $100 million scam.
Burwick Law, representing the plaintiffs, secured the temporary restraining order from the SDNY. Now, all eyes are on a June 9 hearing that could extend the freeze as the lawsuit unfolds.
The case also targets blockchain firms KIP Protocol and Meteora, alleging their involvement in the scheme.
