# USD Coin

Type: Token (USDC)

Source: Legal & RegTech Intelligence Brief — https://getlegalbrief.com/entity/usd-coin-token
Canonical HTML page: https://getlegalbrief.com/entity/usd-coin-token

## Timeline

- **2026-03**: SICC issues freezing injunction — The SICC grants an interim injunction over 780 BTC and 816,773 USDC plus proceeds, and orders the defendant to disclose the assets' whereabouts.
- **2025-01**: Claimants discover the ledger error — The claimants learn the internal ledger balances for the specialised wallets were incorrect and that the earlier transfers were made by mistake.
- **2024-07**: Claimants mistakenly transfer assets — Based on the mistaken ledger belief, the claimants transfer 2,500 BTC and 2,500 BCH into the defendant's other wallets.
- **2024-07**: Defendant moves and converts assets — Between July and November 2024, the defendant converts 20 BTC into approximately 816,773 USDC and transfers that USDC plus 780 BTC to wallets not hosted by the claimants.
- **2020-03**: Ledger fails to record transfers out — For technical reasons, the platform's internal ledger does not record transfers out of the defendant's specialised wallets, leaving the balances shown as empty.
- **2018**: Specialised wallets cease support — The claimant platform ends support for the defendant's specialised wallets, but the internal ledger later fails to reflect certain outflows.

## Recent coverage (1 stories)

### SICC Freezes S$75M in BTC and USDC, Limits Cross-Border Use of Disclosure
2026-08-19 07:56:47 · Sentiment: Neutral · Impact: 5/10 · Sources: 2

The Singapore International Commercial Court has granted an interim injunction freezing roughly S$75 million in Bitcoin and USD Coin, paired with a disclosure order but no cross-border use. Legal teams should note the court's careful balance between asset recovery and jurisdictional limits.
Full story: https://getlegalbrief.com/story/sicc-freezes-75m-crypto-assets-transfer-dispute

---
This page is a machine-readable summary. Sentiment measures the directional read of each development for this entity, not the tone of the reporting; impact weights consequence, not syndication reach. See https://getlegalbrief.com/guides/methodology for the full editorial methodology.