PANews reported on October 31 that, according to Decrypt, a New York judge on Thursday temporarily extended a freeze order on wallets holding approximately $63 million worth of stolen USDC stablecoins, supporting the request of the Singapore liquidators of the defunct cryptocurrency cross-chain bridge Multichain, who are seeking U.S. recognition of the case. Judge David S. Jones ordered Circle to keep three Ethereum wallets frozen and retain the dollar reserves backing the stolen USDC. The liquidators warned that lifting the freeze order in the state court would cause “irreparable damage.” The order also suspended another class-action lawsuit filed by a group of U.S. investors attempting to gain control of the funds. The case was transferred to the Southern District of New York federal court last Friday after Circle invoked the Fair Class Action Act. Under Section 1519 of the U.S. Bankruptcy Code, the order is temporary, and the court will review whether the Singapore liquidation proceedings meet the criteria for “foreign principal proceedings” to regulate cross-border bankruptcy cooperation.PANews reported on October 31 that, according to Decrypt, a New York judge on Thursday temporarily extended a freeze order on wallets holding approximately $63 million worth of stolen USDC stablecoins, supporting the request of the Singapore liquidators of the defunct cryptocurrency cross-chain bridge Multichain, who are seeking U.S. recognition of the case. Judge David S. Jones ordered Circle to keep three Ethereum wallets frozen and retain the dollar reserves backing the stolen USDC. The liquidators warned that lifting the freeze order in the state court would cause “irreparable damage.” The order also suspended another class-action lawsuit filed by a group of U.S. investors attempting to gain control of the funds. The case was transferred to the Southern District of New York federal court last Friday after Circle invoked the Fair Class Action Act. Under Section 1519 of the U.S. Bankruptcy Code, the order is temporary, and the court will review whether the Singapore liquidation proceedings meet the criteria for “foreign principal proceedings” to regulate cross-border bankruptcy cooperation.
A New York court extended an asset freeze order to assist with the liquidation of Multichain in Singapore.
PANews reported on October 31 that, according to Decrypt, a New York judge on Thursday temporarily extended a freeze order on wallets holding approximately $63 million worth of stolen USDC stablecoins, supporting the request of the Singapore liquidators of the defunct cryptocurrency cross-chain bridge Multichain, who are seeking U.S. recognition of the case. Judge David S. Jones ordered Circle to keep three Ethereum wallets frozen and retain the dollar reserves backing the stolen USDC. The liquidators warned that lifting the freeze order in the state court would cause “irreparable damage.” The order also suspended another class-action lawsuit filed by a group of U.S. investors attempting to gain control of the funds. The case was transferred to the Southern District of New York federal court last Friday after Circle invoked the Fair Class Action Act. Under Section 1519 of the U.S. Bankruptcy Code, the order is temporary, and the court will review whether the Singapore liquidation proceedings meet the criteria for “foreign principal proceedings” to regulate cross-border bankruptcy cooperation.
Market Opportunity
Orderly Network Price(ORDER)
$0.097
$0.097$0.097
USD
Orderly Network (ORDER) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
SUI Surges From Consolidation, Buyers Regain Control Above $1.78
SUI had a good start to 2026 after a long consolidation, finally breaking higher above pivotal support. On the 4-hour timeline, the coin transitioned from relative
Share
Tronweekly2026/01/12 18:05
Shibarium releases security incident update: Specific bridge operations have been restricted, limiting the attacker's short-term BONE token staking
PANews reported on September 21st that the Shibarium cross-chain bridge, which connects the Layer 2 network Shibarium and Ethereum, was previously attacked by a flash loan, with approximately $2.4 million in ETH and SHIB stolen. Shibarium has now released a security incident update, stating: 1. Specific bridge operations have been restricted to prevent new unauthorized transactions; 2. Upgrade and restrict potential abuse paths (deposits/withdrawals/claims/rewards) and add targeted defensive controls to prevent abuse of delegated staking; 3. Recover and protect the at-risk BONE held by the staking managers. The attacker’s short-term BONE staking will be effectively restricted by intervention and protocol mechanisms. 4. Rotate validator signers and migrate contract control to multi-party hardware custody; continue the broad migration away from legacy keys; 5. Real-time monitoring of attacker traffic; automatic alerts and reporting to partners and exchanges; 6. Hire independent security researchers, incident response firms, and relevant departments.
Share
PANews2025/09/21 17:26
Trove ICO Rule Changes Allegedly Impact Trader Losses
Allegations of modifications to Trove's ICO rules reportedly influenced significant market reactions, leading to notable trader losses and concerns about fairness
Share
coinlineup2026/01/12 18:44