Drift Protocol
Drift Protocol Outlines User Recovery Plan Ahead of Relaunch and Governance Vote
Drift Protocol was hacked on April 1, 2026, by a North Korea-linked actor, resulting in approximately $295 million in user funds lost. The recovery plan includes compensation tokens backed by exchange revenues, $127.5M from Tether, and $20M from strategic partners. Approximately 130,259 ETH remain in four traceable Ethereum wallets. Around $3.
Drift unveils recovery plan after $295M DPRK-linked exploit, introduces user claim tokens
Drift Protocol has outlined a recovery plan following its $295M exploit, proposing recovery tokens and gradual payouts backed by revenue and external funding.
Drift Protocol Hack: North Korean Hackers Reportedly Stole $285M
North Korean hackers reportedly stole $285 million from Drift Protocol following months of offline employee targeting, according to multiple blockchain security firms investigating the incident.
Hacked DeFi Platform Drift Protocol Gets Tether Backing to Reimburse Customers and Relaunch Operations
Drift Protocol—the Solana-based perpetual futures exchange—has arranged substantial new capital to address losses from a recent security breach and prepare for a full operational restart.
Vectis outlines withdrawal process after $285M Drift Protocol exploit
The Drift Protocol exploit highlights vulnerabilities in DeFi, potentially impacting Solana's market stability and long-term growth prospects. Vectis outlines withdrawal process after $285M Drift Protocol exploit.
Circle Faces Lawsuit After Drift Exploit Over Claims It Took No Action to Freeze the Funds
Crypto infrastructure providers are under rising pressure as a new lawsuit tests whether technical control can bring legal responsibility after a major hack. The case against Circle could influence how courts treat stablecoin and bridge operators during active breaches. Key Takeaways: Circle faces claims it failed to freeze stolen USDC after the Drift Protocol exploit.
Drift Investor Sues Circle Over Stolen USDC Freeze
A court filing in U.S. District Court in Massachusetts shows investor Joshua McCollum has sued Circle Internet Group, alleging the company failed to freeze about $230 million in stolen USDC tied to the April 1 Drift exploit. The complaint appears on CourtListener and frames the case as a proposed class action.
Tether uses $127M Drift rescue to challenge Circle's grip on Solana payments
USDT stablecoin issuer Tether has stepped in to anchor a massive recovery plan for Drift Protocol, the Solana-based decentralized exchange (DEX) that was crippled by a $286 million exploit earlier this month. However, the rescue package includes a potent commercial string that could challenge Circle's dominance of USDC on the Solana blockchain.
Circle Hit With Class Action Lawsuit Over $285M Drift Protocol Hack
Lawyers allege Circle failed to freeze stolen USDC during an eight-hour window as hackers moved funds from the exploited trading platform.
Drift Secures $147.5 Million From Tether, Drops Circle's USDC After Massive Exploit
Tether commits $127.5 million to fund Drift's recovery and relaunch on Solana, while a class action targets Circle for failing to freeze stolen USDC during the April 1 exploit.
DeFi Under Siege: 12+ Crypto Platforms Breached Following Drift Protocol's $280M Loss
The cryptocurrency ecosystem has witnessed a sustained assault on its security infrastructure, with no fewer than 12 decentralized finance platforms and digital asset businesses falling victim to malicious exploits within a two-week period after the April 1, 2026 Drift Protocol breach worth $280 million.
Tether Steps Up With $148M Rescue Plan for Drift Protocol After Massive Exploit
On April 1, Drift Protocol, a prominent decentralized exchange on the Solana blockchain, suffered a catastrophic $280 million security breach. Tether has now emerged as the platform's savior with a comprehensive bailout strategy.
