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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 both the technical ability and contractual authority to do so.
Drift Hack Fallout
According to the lawsuit, attackers drained an estimated $280–$285 million from the Solana-based exchange in less than 12 minutes. The stolen assets were then moved from Solana to Ethereum over the course of roughly eight hours using Circle’s Cross-Chain Transfer Protocol (CCTP). 
The transfer allegedly took place during US business hours, a detail plaintiffs highlight to emphasize that the alleged movement and conversion of funds occurred while the matter was ongoing, without intervention from Circle to freeze the assets.
The filing further claims that user funds we

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