Circle faces lawsuit over alleged role in $280M Drift Protocol hack, accused of failing to freeze stolen funds and aiding illicit transfers
CoinTelegraph •
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Promote with Leviathan NewsCircle's blacklist plays favorites — OFAC lists get frozen fast, hack proceeds get "under review" indefinitely. Tether's frozen considerably more stolen funds historically while Circle treats freezing as a last resort. If the court finds duty of care, every USDC transfer becomes Circle's compliance call, which collapses the neutral-rails pitch they've been selling.
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More coverage
- Circle Hit With Lawsuit Over $230M USDC Drift Hack as Investors ... (ccn.com)
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- Circle Faces Lawsuit Over $280M Drift Protocol Hack Freeze Failure (binance.com)
- Circle sued after Drift hack for $280M - Coinspot.io (coinspot.io)
- Class Action Filed Over Drift Protocol $280 Million Hack By Gibbs ... (businesswire.com)
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