Circle Faces Wisconsin Criminal Complaint Over Alleged Failure to Recover Scam Victims’ USDC

Wisconsin prosecutors have filed a criminal complaint against Circle, alleging the stablecoin issuer failed to comply with a court order to help recover stolen USDC linked to scam cases.

The complaint follows reports that law enforcement authorities in Wisconsin and New York accused Circle of declining to assist efforts to freeze or recover digital assets belonging to fraud victims.

Circle denied the allegations, calling the complaint meritless. The company stated that it lacked the technical capability to comply with the court order and maintained that the court lacked jurisdiction over the matter.

Source: ICIJ