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Drift Investor Sues Circle Over Stolen USDC Freeze - Crypto Economy
A court filing in U.S. District Court in Massachusetts shows investor Joshua McCollum has sued Circle Internet Group, alleging the company failed to freeze about $230 million in stolen USDC tied to the April 1 Drift exploit. The complaint appears on CourtListener and frames the case as a proposed class action.
The lawsuit alleges Circle had the technical ability to intervene as the funds moved through its Cross-Chain Transfer Protocol system, but did not act in time. The filing says McCollum is pursuing the case on behalf of more than 100 investors and is seeking damages to be determined at trial.
For now, the immediate point to watch is Circle’s response to the allegations and how the case develops in court. The filing adds a legal front to the fallout from the Drift exploit, with liability and damages now at issue.
Source: CourtListener filing.
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.