A New York court extended an asset freeze order to assist with the liquidation of Multichain in Singapore.

On Thursday, a New York judge temporarily extended a freeze order on wallets holding approximately $63 million worth of stolen USDC stablecoins, supporting a request from the liquidators of the defunct cryptocurrency cross-chain bridge Multichain in Singapore. Judge David S. Jones ordered Circle to keep three Ethereum wallets frozen and to retain the dollar reserves backing the stolen USDC. The liquidators warned that lifting the freeze order in the state court would cause “irreparable harm.” 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. (Decrypt)