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Pharmaceutical Company CelaCare Sues Circle for Refund After CEO Accidentally Destroys $1 Million USDC

Article is form Jinse
September 13, 2024
This article is translated by ChatGPT Show original
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On September 13th, pharmaceutical company CelaCare sued stablecoin issuer Circle, seeking the return of $1 million in USDC that its CEO, Kenneth Yates, mistakenly sent to a wrong address and effectively "destroyed."

The lawsuit alleges that Yates, on July 3, 2024, while transferring USDC from a Coinbase account, mistakenly typed the letter "B" as the number "8" in the recipient address, resulting in the funds being sent to an unowned and inaccessible wallet address. CelaCare requests the court to confirm the USDC was destroyed and demands Circle to compensate them for the $1 million.

However, Circle rejected the refund request on September 6th.

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