Stablecoin issuer Circle is facing a class action lawsuit for allegedly failing to freeze stolen funds from the April 1 Drift Protocol hack, which amounted to approximately $280 million. The lawsuit, filed by investor Joshua McCollum on behalf of over 100 investors in the U.S. District Court for the District of Massachusetts, accuses Circle of negligence and aiding improper disposition. The plaintiffs claim Circle did not intervene for several hours as attackers used its Cross-Chain Transfer Protocol (CCTP) to transfer about $230 million USDC from Solana to Ethereum.