Circle Faces Class Action Lawsuit for Not Freezing Stolen Funds from Drift Protocol

Techub News reports, according to Cointelegraph, Drift investor Joshua McCollum has filed a class-action lawsuit against Circle on behalf of over 100 investors in a Massachusetts district court in the United States. The lawsuit alleges that Circle failed to freeze the $280 million stolen from the protocol on April 1. "Circle allowed this criminal use of its technology and services," wrote the attorney representing McCollum, "If Circle had acted promptly, these losses would not have occurred, or would have been significantly reduced."