coin-img-ETHETH-0.73%coin-img-BTCBTC+0.41%coin-img-SOLSOL-0.61%coin-img-USDCUSDC-0.02%coin-img-COOCOO+2,149.90%coin-img-KFCKFC-12.58%coin-img-XRPXRP-1.02%coin-img-XAUTXAUT+0.64%coin-img-ETHETH-0.73%coin-img-BTCBTC+0.41%coin-img-SOLSOL-0.61%coin-img-USDCUSDC-0.02%coin-img-COOCOO+2,149.90%coin-img-KFCKFC-12.58%coin-img-XRPXRP-1.02%coin-img-XAUTXAUT+0.64%coin-img-ETHETH-0.73%coin-img-BTCBTC+0.41%coin-img-SOLSOL-0.61%coin-img-USDCUSDC-0.02%coin-img-COOCOO+2,149.90%coin-img-KFCKFC-12.58%coin-img-XRPXRP-1.02%coin-img-XAUTXAUT+0.64%coin-img-ETHETH-0.73%coin-img-BTCBTC+0.41%coin-img-SOLSOL-0.61%coin-img-USDCUSDC-0.02%coin-img-COOCOO+2,149.90%coin-img-KFCKFC-12.58%coin-img-XRPXRP-1.02%coin-img-XAUTXAUT+0.64%

U.S. law firm opens class-action probe into Drift Protocol hack, alleges Circle failed to freeze funds

Odaily Planet Daily reports that U.S. law firm Gibbs Mura has formally launched a class-action investigation into the Drift Protocol exploit, which is estimated to involve $280 million to $285 million. More than $230 million in USDC was moved to Ethereum via Circle's Cross-Chain Transfer Protocol (CCTP). Gibbs Mura argues that Circle had the technical ability to freeze the funds but did not act during the attack. The firm is assessing potential claims against Circle, including "failure to intervene in a timely manner," "inadequate monitoring," and "failure to fulfill stablecoin responsibilities," and is calling on affected users to join the action to support recovery efforts. (Businesswire)
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