American law firms launch class-action investigation into Drift Protocol hacking incident, pointing fingers at Circle

DeepFlowTech · 2026-04-09T12:56:33+00:00

U.S. law firm Gibbs Mura is conducting a class-action investigation into the Drift Protocol hacking incident in 2026, with losses of approximately $280 million. The attacker transferred funds through Circle's cross-chain protocol. This incident caused a significant drop in the total locked value of the protocol and a sharp decline in token prices, affecting multiple DeFi protocols and resulting in losses.

DeepFlowTech

2026-04-09 12:56:33

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Deep Tide TechFlow News, April 9 — The U.S. law firm Gibbs Mura has launched a class action investigation into the hacking incident of Drift Protocol on April 1, 2026, examining potential claims by investors against Circle Internet Financial.

The attack resulted in approximately $280 million to $285 million in assets being stolen. The attacker subsequently transferred over $230 million USDC across chains via Circle’s Cross-Chain Transfer Protocol (CCTP) to Ethereum, with Circle taking no freezing measures throughout the process. Just nine days before the incident, Circle had proactively frozen 16 business wallets in a civil dispute. Blockchain analytics firm Elliptic suspects the attack is linked to North Korea-backed hacking groups.

The attack caused Drift Protocol’s total locked value (TVL) to plummet from $550 million to below $250 million, with the DRIFT token price dropping over 40%, and at least 20 DeFi protocols suffering indirect losses.

DRIFT-14.16%

USDC-0.02%

ETH-0.07%

DEFI0.9%

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