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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

WAR: Geopolitical Meme Coin on Solana

#As we move through mid-April 2026, the decentralized finance (DeFi) sector is witnessing a subtle but persistent uptick in activity. With stablecoin transaction volumes hitting new all-time highs and

#As we move through mid-April 2026, the decentralized finance (DeFi) sector is witnessing a subtle but persistent uptick in activity. With stablecoin transaction volumes hitting new all-time highs and on-chain swap efficiency becoming a primary focus for institutional capital, the "blue-chip" protocols—Uniswap and Curve—are back in the spotlight. However, while the fundamental "pipes" of DeFi are as busy as ever, their native tokens, UNI and CRV, are currently locked in a battle against heavy multi-month resistance. Uniswap (UNI): Liquidity Winner, Technically Still Mid‐Range Source: tradingview The technical picture is one of early improvement rather than a clean trend reversal. While the 7-day SMA ($3.16) is finally supporting the current price, the 30-day ($3.43) and 200-day ($5.20) moving averages remain significant overhead obstacles. The MACD histogram (+0.0057) is turning up from weak levels, but until the MACD line itself crosses into positive territory, the momentum is best described as "bottom-fishing." TradingView Watchlist: Watch for a daily close above the $3.43 (30-day SMA) level. A sustained break here, accompanied by an RSI-14 climb into the 55–65 band, would signal that the bulls are finally wrestling control back from the sellers. Near-Term Scenario Map Base Case (-15% to +25%): UNI continues to oscillate between $2.70 and $4.00. Continued DEX volume strength keeps the floor intact, but the 200-day MA likely caps any rallies without a massive volume surge. Bullish Path (+30% to +50%): A genuine DeFi comeback pushes UNI toward $4.10–$4.75. This would require a confirmed "DeFi Summer 2.0" rotation and clearly positive MACD signals. Bearish Path (-20% to -30%): If capital rotates into newer narratives like AI infrastructure or RWAs, UNI may drift toward $2.50–$2.20. Curve (CRV): Slightly Better Short‐Term Setup, Still Under Heavy Lid Source: tradingview CRV’s indicators are marginally more constructive. The MACD histogram (+0.0016) is rising, and the 

As we move through mid-April 2026, the decentraliz

XVS talk is cautious: Square mood is concerned/neutral on volatility. Venus updates after the Mar 15 THE incident: on Mar 17 post-mortem; Mar 20 patch to block donation attacks; Mar 23–25 bad-debt/exc

WL: Ethereum L2/Sidechain

Bitcoin Up 2 Weeks: Beginning or End?HTX Community Spring Creation ContestMarket Rally! Claim Your AirdropDrift Protocol has announced a collaboration with Tether (USDT) and other partners totaling ne

Drift Protocol has announced a collaboration with Tether (USDT) and other partners totaling nearly $150 million to fund user recovery and a protocol relaunch following its April 1 exploit on Solana (SOL). The package includes a $100 million revenue-linked credit facility, an ecosystem grant, and loans to designated market makers. USDT will serve as the settlement asset when the protocol relaunches. Recovery Pool and Token for Impacted Users The funds, out of which $127.5 million is reportedly from Tether, will support a dedicated user recovery pool fed by exchange revenue and committed support capital. Drift stated that any assets recovered through ongoing law enforcement and blockchain forensics efforts will also flow into the pool. To distribute recovery assets, Drift will issue a new transferable token to users affected by the April 1 exploit. The team said additional details on token mechanics will follow in the near term. The April 1 attack drained between $270 million and $285 million from Drift’s vaults. Blockchain analytics firm Elliptic attributed the operation to North Korean state-linked actors who spent six months infiltrating the protocol’s inner circle. Attackers posed as a quantitative trading firm, built trust at conferences, and compromised devices through a malicious TestFlight app and a VSCode vulnerability. They then manipulated Drift’s multisig approvals using Solana’s durable nonces feature to drain core vaults holding USDC, SOL, and JLP tokens. The incident slashed Drift’s total value locked from $550 million to roughly $230 million. The Drift (DRIFT) token dropped over 30% in the immediate aftermath. The protocol’s TVL was $243 million as of this writing. Drift Protocol TVL. Source: DefiLlama Hardened Security and USDT-Centered Relaunch Before relaunching, every protocol component will pass independent audits from OtterSec and Asymm

Drift Protocol has announced a collaboration with

Tether CEO Paolo Ardoino says CBDCs could turn money into a surveillance tool (3:11) Tether, the crypto company best known for its fiat- and gold-pegged stablecoins, announced the launch of a self-cus

Major gold holder launches self-custody wallet

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There’s often a gap between what’s happening structurally and what the market is paying attention to. Right now, most attention is still focused on short-term signals: price movements token narratives

The UK’s FCA has opened a fresh consultation on how stablecoins, trading, custody and staking will be regulated before a full crypto regime goes live in 2027. Summary The UK Financial Conduct Authorit

UK’s FCA opens final crypto consultation ahead of 2027 regime switch-on Stablecoins, staking and a 2

Vote to help HTX win & share 300 USDT!

On April 17, Tether CEO Paolo Ardoino posted on X that Tether has frozen 3.29 million USDT in the Rhea Finance hacker address. Paolo Ardoino specifically mentioned, 'Tether takes this matter seriously

Tether Freezes 3.29 Million USDT in Rhea Finance Hacker Address

HTX DAO's First Hackathon Launches!

On April 17, on-chain analyst Yu Jin reported that after selling off dispersed tokens at the beginning of the month, SIREN whales have reclaimed tokens, increasing their control to over 93%. This has 

SIREN Surges 185% After Whales Reclaim Over 93% of Tokens

Earn Limited-Time 10% APY on $HTX Staking

A fragile but significant ceasefire between Lebanon and Israel took effect Thursday, as President Donald Trump signaled that a broader peace agreement with Iran may be within reach. The development ma

Iran-Lebanon War: Ceasefire Reached as U.S. and Iran Edge Closer to Nuclear Deal - EconoTimes

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BTC преодолел отметку в $120 000!

UNI surges, is DeFi boom coming?

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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.

CertiK: Rhea Finance Attacked, Losses Estimated at Approximately $7.6 Million

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