Circle under fire after $285 million Drift hack over inaction to freeze stolen USDC
Circle is facing criticism following the $285 million hack of the Drift protocol, where a significant amount of USDC was stolen. Despite being alerted to the breach, Circle reportedly did not take immediate action to freeze the stolen funds, raising concerns about its response protocols. The incident has sparked discussions about the responsibilities of stablecoin issuers in protecting users and assets. As a result, Circle's reputation may be at risk, with calls for improved security measures and quicker responses to similar situations in the future.
Read the full article: CoinDesk