Circle · The Defiant
Class Action Lawsuit Filed Against Circle Over Drift Protocol $280 Million Hack: Gibbs Mura Law Group
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Law firm charges Circle Internet Financial with failing to freeze $230 million in stolen USDC after the April 1 Drift Protocol exploit, allegedly linked to North Korean attackers.
Key facts
- A class action lawsuit was filed on April 14, 2026, by Gibbs Mura, A Law Group on behalf of Drift Protocol investors who lost funds in the $280 million April 1 hack
- The Drift Protocol exploit, executed via pre-signed administrative transactions on Solana, caused total value locked to collapse from $550 million to under $250 million and triggered indirect losses
- Sources: Gibbs Mura, A Law Group This article was generated automatically by The Defiant’s AI news system from publicly available sources
- The lawsuit claims Circle has accumulated over $420 million in alleged compliance failures by repeatedly allowing unrestricted use of its stablecoin and bridge services during large breaches
Summary
A class action lawsuit was filed on April 14, 2026, by Gibbs Mura, A Law Group on behalf of Drift Protocol investors who lost funds in the $280 million April 1 hack. The Drift Protocol exploit, executed via pre-signed administrative transactions on Solana, caused total value locked to collapse from $550 million to under $250 million and triggered indirect losses across at least 20 additional DeFi protocols. Blockchain analytics firm Elliptic linked the attack to North Korean state-sponsored actors. Sources: Gibbs Mura, A Law Group This article was generated automatically by The Defiant’s AI news system from publicly available sources.