Circle Denies Liability for $232M USDC Wallet Exploit

Blockchain company Circle Internet Financial LLC has denied responsibility for a $232 million USDC wallet exploited by North Korean hackers in April. The funds were part of the Drift Protocol exploit on April Fools' Day, which netted around $200 million. Circle claims it was not in possession of the contents of the wallets at issue and therefore cannot be held liable for the losses.

The company made this argument in response to a claim by the family of a man who was kidnapped and murdered by North Korean agents. The family had sought compensation from Circle for the loss, but the company has maintained that it does not have control over the wallets or their contents.