Stablecoin issuer Circle faces lawsuit over $230M Drift Protocol hack

Circle was accused of aiding and abetting the conversion of the stolen funds and negligence after it did not freeze funds stolen from the Drift Protocol in April.

Drift Protocol Secures $147.5 Million Recovery Package After April 1 Exploit

Tether commits $127.5M as Drift Protocol launches recovery pool to cover $295M in user losses.

Tether commits $147.5M to Drift Protocol recovery, Solana up 6%

Tether’s investment may boost confidence in the Solana ecosystem, but market sentiment remains cautious with limited trading activity. Tether commits $147.5M to Drift Protocol recovery, Solana up 6%.

Circle (CRCL) Sued Over $280M Drift Protocol Hack—What Plaintiffs Claim

Circle (CRCL), the issuer behind the USDC stablecoin, is facing a fresh lawsuit in Massachusetts tied to the $280 million Drift Protocol hack that occurred on April 1. The complaint, filed by plaintiffs represented by the law firm Gibbs Mura, alleges that Circle did not take action to freeze stolen funds even though it had […]

Drift Protocol has secured a recovery lifeline that prioritizes affected users thanks to Tether

Drift Protocol announced today that it would deploy a structured recovery plan supported by close to $150 million from Tether and other entities. The news comes a couple of weeks after Drift Protocol was hit with a major $280M exploit, in one of the most devastating exploits in DeFi history.