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On April 17, OpenAI is launching an early version of an artificial intelligence (AI) model aimed at accelerating drug discovery, joining the ranks of tech companies competing to demonstrate that AI ca

OpenAI Launches AI Model for Drug Development, Challenging Google

Earn Limited-Time 10% APY on $HTX Staking

On April 17, U.S. President Trump stated that he expects an agreement with Iran to be announced soon, claiming that the deal will bring 'free oil' and 'free access to the Strait of Hormuz' for the Uni

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BASED: Hyperliquid’s On-Chain Super App

Uniswap launched its developer platform with API access to 10 million assets across 18 chains. The Uniswap API now includes Liquidity Provider endpoints that let developers create positions, adjust po

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Bitcoin Up 2 Weeks: Beginning or End?HTX Community Spring Creation ContestVote to help HTX win & share 300 USDT!Stablecoin issuer Circle faces lawsuit over $230M Drift Protocol hack Circle Internet Gr

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


Circle Internet Group is facing a class action lawsuit led by a Drift Protocol investor claiming it failed to freeze funds stolen in a $280 million exploit of the protocol on April 1.

The lawsuit was filed by Drift investor Joshua McCollum on behalf of over 100 members in a US district court in Massachusetts on Wednesday, which accused Circle of allowing the attackers to transfer about $230 million worth of $USDC ($USDC) from Solana to Ethereum via Circle’s Cross-Chain Transfer Protocol (CCTP) over several hours without intervention.

“Circle permitted this criminal use of its technology and services,” attorneys representing McCollum wrote, adding: “These losses would not have occurred, or would have been substantially reduced, had Circle taken timely action.”

The suit accuses Circle of aiding and abetting conversion as well as negligence. Mira Gibb, the law firm representing McCollum and other Drift investors, is seeking damages, with the final amount to be determined at trial.

The case touches on a legal grey area around crypto companies that retain control over user funds. While such companies may have the technical ability to intervene or freeze assets, they often cite regulatory constraints or the lack of immediate legal authority as reasons for inaction — leaving accountability unclear as exploits unfold in real-time.

Source: James Seyffart

McCollum’s lawyers pointed out that Circle froze 16 $USDC wallets in connection with a sealed US civil case about a week before the Drift incident to argue that Circle had the technical capacity to do the same.

Cointelegraph reached out to Circle for comment, but didn’t receive an immediate response.

Crypto analytics firm Elliptic suspected the exploit was committed by North Korean state-backed hackers, who made over 100 transacti

Stablecoin issuer Circle faces lawsuit over $230M

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VeChain (VET) shows early recovery after prolonged bearish trend, now at $0.00701 Accumulation under resistance levels may precede potential breakout rally A decisive move above highlighted resistance

VeChain Shows Recovery as Price Tests Resistance Levels

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BitcoinWorldMonero Price Prediction 2026-2030: Can Privacy Coins Spark the Next Explosive Bull Run? As regulatory landscapes shift and digital privacy concerns intensify globally, Monero (XMR) stands 

Monero Price Prediction 2026-2030: Can Privacy Coins Spark the Next Explosive Bull Run?

Vote to help HTX win & share 300 USDT!

Viction (VIC) is currently trading between $0.049 and $0.050, with a 24-hour price change of approximately +2.3%. The 24-hour trading volume ranges from $750K to $1.3M, indicating moderate market acti

Key Highlights LayerZero falls nearly 9% in 24 hours, extending its short-term downtrend after failing to hold above $2.00.A $15M+ transfer by Alameda Research to Wintermute adds fresh supply pressure

LayerZero (ZRO) Slides Following Alameda Token Transfers — What’s Ahead?

On April 17, Bloomberg reported that the American Securities Association (ASA) stated that Anthropic PBC's new artificial intelligence model, Mythos, could pose risks to traders and the broader financ

US Securities Industry Association Warns: Anthropic's AI Model Mythos Poses Risk to Financial System

edgeX: Sub-10ms Global DeFi Layer

Todd Lyons, the acting director of U.S. Immigration and Customs Enforcement, is set to depart from federal service on May 31, 2026, transitioning to the private sector. The announcement came from Depa

ICE Acting Director Todd Lyons to Exit Federal Government at End of May - EconoTimes

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edge soared to 1.2742 USDT, a new high with a 24-hour increase of 13.45%. It currently trades at 1.1689 USDT on HTX.

edge currently trades at 1.1689 USDT, up 13.45% in 24h, according to HTX market data.

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