Stablecoin issuer Circle faces lawsuit over $230M Drift Protocol hack
Burns Brief
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 The news has rattled market participants, with bears looking to push prices lower while bulls attempt to defend key support levels. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
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.
Key Takeaways
- 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