Circle blacklisted a publicly labeled Ethereum smart contract tied to Zama’s privacy protocol on Saturday, freezing approximately $12.6 million in USDC following a U.S. federal court order connected to a civil lawsuit against Overnight Finance founder Maxim Ermilov. The frozen address, 0xe978F22157048E5DB8E5d07971376e86671672B2, is labeled “Zama: cUSDC Token” on Etherscan and in Zama’s own documentation. It functions as a pooled confidential USDC wrapper using fully homomorphic encryption to obscure token balances. Circle executed the blacklist around 1:08 UTC, halting redemptions for all users holding cUSDC in the contract.