Gibbs Mura Launches Class Action Investigation into Drift Theft Incident, Points to Circle's Failure to Freeze Funds

AirdropBlackHole · 2026-04-08T19:50:52+00:00

Gibbs Mura has launched a class action investigation into the Drift Protocol theft, involving $280 million in funds. They claim Circle failed to freeze assets during the incident and encourage affected users to join the lawsuit for recovery.

AirdropBlackHole

2026-04-08 19:50:52

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On April 8, the U.S. law firm Gibbs Mura announced the formal launch of a class action investigation regarding the Drift Protocol theft incident, involving an estimated $280 million to $285 million in funds. It is reported that over $230 million in USDC was transferred to Ethereum via Circle’s Cross-Chain Transfer Protocol (CCTP). Gibbs Mura argues that despite Circle’s technical capability to freeze funds, no such action was taken during this attack. The firm is currently assessing whether investors can file claims against Circle for ‘failure to intervene in a timely manner,’ ‘insufficient monitoring,’ and ‘failure to fulfill stablecoin responsibilities.’ They are also calling on affected users to participate in the lawsuit to facilitate the recovery of funds.

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