Pharmaceutical company CelaCare sues Circle for refund after CEO accidentally destroyed $1 million USDC

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According to ChainCatcher, pharmaceutical company CelaCare sued stablecoin issuer Circle, demanding the return of $1 million USDC that its CEO Kenneth Yates sent to the wrong address and "destroyed" due to an error.

The lawsuit states that Yates mistakenly entered the letter B in the address as the number "8" when sending USDC from a Coinbase account on July 3, 2024, causing the funds to enter an unowned and inaccessible wallet address. CelaCare asked the court to confirm that the USDC had been destroyed and demanded $1 million in compensation from Circle.

However, Circle rejected the refund request on September 6.

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