Many within the crypto industry are outraged by Circle’s lack of a response to the Drift exploit conducted this week, expressing dismay regarding the capabilities of the USDC issuer’s compliance program.

• Drift Disaster: In a recent exploit condunducted earlier this week, attackers successfully bridged $280M of stolen Drift funds through Circle’s CCTP infrastructure, casing out their ill-gotten gains over the course of multiple hours amid public cries for intervention.

• Bigger Problem: According to anonymous onchain sleuth ZachXBT, Circle has failed to freeze more than $420M of illicit USDC transfers since 2022, a concerningly large figure that raises questions about the stablecoin issuer’s enforcement capabilities.

• GENIUS…