Pharmaceutical company CelaCare sues Circle for a refund after the CEO mistakenly destroys one million US dollars in USDC
On September 13th, pharmaceutical company CelaCare sued stablecoin issuer Circle, demanding a refund of $1 million USDC that its CEO Kenneth Yates mistakenly sent to the wrong address and "destroyed". The lawsuit states that on July 3rd, 2024, when Yates was sending USDC from his Coinbase account, he mistyped the letter 'B' in the address as the number '8', causing the funds to enter an unowned and inaccessible wallet address. CelaCare is asking the court to confirm that the USDC has been destroyed and is requesting Circle to compensate $1 million. However, Circle refused this refund request on September 6th.
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