Credit Check Functionality has broken after 24C release

It seems the credit check logic is not working correctly at all.
Seems like a regression issue, it was working well in 24B but after 24C upgrade seems there is break in the logic.

The credit limit seems to be working like a order limit instead of credit limit. Even after placing order after passing the credit limit the order is not going on hold.

Scenario -
Customer Credit Limit - 10000
Order 1 - Amount 12000 (goes on credit check)
Order 2 - Amount 1000 (does not go on hold)
Order 3 - Amount 20000 (goes on credit check)

Even Order Amount Limit is also not working correctly.