Circle faces lawsuit over Drift Protocol hack, Solana under $40 April 15

Circle faces a class action lawsuit over the Drift Protocol hack, and Solana’s April 16 price market sits at 0.1% YES for breaking $100.

The lawsuit, filed by Gibbs Mura, alleges Circle failed to freeze stolen funds linked to North Korean hackers. The exploit is the largest in 2026. The April 15 Solana price market is at 100% YES for Solana being under $40. The April 16 market shows odds at 0.1% YES.

The April 15 odds priced at 100% YES for Solana under $40 signal heavy bearish sentiment. The April 16 market moved from 0% to 0.1% over the past 24 hours but remains flat. Average trading volume is $164 in actual USDC, which points to very few participants willing to take positions.

The lawsuit adds to questions about Circle’s ability to respond to exploits and about Solana’s security posture more broadly. North Korea’s cyber operations have siphoned billions in crypto to fund its weapons program, and DeFi projects that depend on stablecoin bridges like Circle’s CCTP face direct exposure to these risks. At 0.1¢, a YES share pays $1 if Solana breaks $100 on April 16, a potential 1,000x return. But the price tells you what the market thinks of that happening.

Watch for legal developments, any statements from Solana Labs or Circle, and new security measures. Further hacks or additional legal actions against stablecoin issuers would likely push these odds lower.

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