Stablecoin issuer Circle is facing a class-action lawsuit over the stolen funds in the April 1 attack involving approximately $280 million in Drift Protocol that was not frozen.
The plaintiff, investor Joshua McCollum, filed the lawsuit on behalf of more than 100 investors in the U.S. District Court for the District of Massachusetts, accusing Circle of failing to intervene within hours after the attacker transferred about $230 million USDC from Solana to Ethereum via its cross-chain transfer protocol (CCTP), constituting aiding and abetting improper disposal and negligence. (Cointelegraph)
Stablecoin issuer Circle is facing a class-action lawsuit over the stolen funds in the April 1 attack involving approximately $280 million in Drift Protocol that was not frozen.
The plaintiff, investor Joshua McCollum, filed the lawsuit on behalf of more than 100 investors in the U.S. District Court for the District of Massachusetts, accusing Circle of failing to intervene within hours after the attacker transferred about $230 million USDC from Solana to Ethereum via its cross-chain transfer protocol (CCTP), constituting aiding and abetting improper disposal and negligence.
(Cointelegraph)