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U.S. law firm launches class action investigation into Drift Protocol hack targeting Circle

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A class action investigation has begun in the U.S. over the Drift Protocol hack targeting Circle. On-chain data shows $280–285 million was stolen, with $230 million in USDC transferred via Circle’s CCTP. Elliptic links the attack to a North Korea-backed group. Altcoins to watch include DRIFT, which dropped over 40% as TVL fell below $250 million.

The U.S. law firm Gibbs Mura has launched a class action investigation into the April 1, 2026, hack of Drift Protocol, examining potential claims by investors against Circle Internet Financial. The attack resulted in the theft of approximately $280 million to $285 million in assets, after which the attacker transferred over $230 million in USDC across chains to Ethereum via Circle’s Cross-Chain Transfer Protocol (CCTP), with Circle taking no action to freeze the funds. Just nine days prior, Circle had voluntarily frozen 16 commercial wallets in a separate civil dispute. Blockchain analysis firm Elliptic suspects the attack is linked to a North Korean state-sponsored hacking group. The breach caused Drift Protocol’s total value locked (TVL) to plummet from $550 million to below $250 million, DRIFT token prices to drop over 40%, and at least 20 DeFi protocols to suffer indirect losses.

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