GetBit Technologies Sues Hackers for Alleged $45K Crypto Heist

On Wednesday, March 13, 2024, GetBit Technologies Inc. filed a lawsuit against unknown hackers known as John Doe 1 and 2. The Delaware-based blockchain technology company alleges the individuals hacked into their cryptocurrency accounts and stole 45,000 USDC digital currency tokens worth around $45,000.

According to the complaint filed with the Court of Chancery of the State of Delaware, GetBit Technologies maintains corporate accounts containing fiat currency and cryptocurrencies for business operations. On the date in question, an unauthorized party gained access to their accounts on the Polygon blockchain network and transferred the USDC tokens to a private digital wallet.

USDC is a type of stablecoin backed 1:1 by the US dollar. It is controlled and issued by Circle Internet Financial, a cryptocurrency firm also incorporated in Delaware. In the lawsuit, GetBit has asked the court to compel Circle to “blacklist” or freeze the accused wallet address, preventing any transfers of the stolen funds on the Polygon blockchain.

The technology company suspects this incident may be linked to another cryptocurrency theft that occurred on February 21, for which the court had already granted a temporary restraining order. However, they are uncertain if the same individuals are responsible. If the stolen USDC tokens are unable to be moved or exchanged, it makes their recovery more likely.

GetBit has asserted claims of conversion, money had and received, unjust enrichment, and has requested for a constructive trust and freeze on the accused wallet containing the stolen crypto assets. As the rightful owner, they argue the unknown hackers have no entitlement to possess or benefit from the funds. The lawsuit names John Doe 1 and 2 as defendants, Circle as a relief defendant due to its role in issuing USDC.

GetBit Technologies is seeking damages, legal fees, blacklisting of the suspect address, and any other relief deemed appropriate. As a Delaware corporation, they have filed the case in the Court of Chancery, a court of equity, which has jurisdiction over such civil claims involving intangible property and requesting equitable remedies.

Please contact BlockTribune for access to a copy of this filing.