Stablecoin source circle It is under fire from critics who say the company could have moved faster to freeze funds stolen from the cryptocurrency protocol DriftingCoinDesk I mentioned Friday (April 3).
During the Drift hack, the attacker used Circle’s cross-chain transfer protocol to move about $232 million in USDC from Solana to Ethereum, according to the report.
Critics, including blockchain investigator ZackXBTCircle could have acted faster to limit Drift’s losses, the report said.
However, others said Circle could face legal risks if it did so without a court order or a request from law enforcement, according to the report.
A Circle spokesperson told CoinDesk: “Circle is a regulated company that complies with sanctions, law enforcement orders, and court-imposed requirements. We freeze assets when legally required to do so, consistent with the rule of law and with strong protections for user rights and privacy.”
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Drift, a cryptocurrency exchange offering perpetual futures contracts on the Solana blockchain, said on Wednesday (April 1). mail On X he was experiencing activity attacks Deposits and withdrawals were suspended.
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As of late Friday, this post was still pinned to the top of Drift’s posts on X. Additionally, a banner appeared at the top of the company’s page Website “Drifting has been temporarily suspended until further notice due to irregular activity in the protocol,” he said.
In a series of posts Wednesday on
Drifting to publish Late Thursday (April 2) he had information about parties connected to the exploit and was sending an on-chain message to the wallets containing the stolen funds.
“For the community, Drift will share further updates once third-party attribution is complete,” the company said in the post.
Financial Times I mentioned on Thursday that Drift is the largest permanent futures exchange on the Solana blockchain and that hackers who attacked Drift stole $280 million from the exchange.
Bloomberg I mentioned Wednesday that the amount of cryptocurrencies involved, as determined by blockchain data analysts, could make this one of the largest hacks in cryptocurrency history.
