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An American law firm launches a class-action lawsuit investigation into the Drift Protocol theft, questioning whether Circle failed to freeze funds

Enforcement Actions Security Incidents

2026-04-09 13:00:02

ETH-0.19%

Gate News message: On April 9, the U.S. law firm Gibbs Mura announced that it has officially launched an investigation into a class-action lawsuit concerning the theft incident involving Drift Protocol. The amount of funds involved is approximately $280 million to $285 million. It is reported that more than $230 million in USDC was transferred to Ethereum through Circle’s cross-chain transfer protocol (CCTP). Gibbs Mura said that although Circle has the technical capability to freeze funds, it did not take any freezing action in this attack. The law firm is currently evaluating whether investors may bring claims against Circle for issues such as “failure to intervene in a timely manner,” “insufficient monitoring,” and “failure to fulfill the stablecoin issuer’s responsibilities,” and it is urging affected users to participate in the lawsuit to help move forward with the recovery of funds.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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