The post Circle Sued for Failing to Freeze $230M in USDC After Drift Hack appeared first on Coinpedia Fintech News
Circle has been hit with a class-action lawsuit in Massachusetts alleging it failed to freeze nearly $230 million in USDC linked to the April 1 Drift Protocol breach, in which about $280 million was stolen. The complaint claims the funds were transferred across chains for hours without being frozen, even though Circle reportedly had the authority and tools to stop the movement, fueling debate over stablecoin issuers’ duties during major DeFi attacks.