Blockchain investigator ZachXBT has reportedly renewed his criticism of Circle, the issuer of USDC, over what he describes as inaction following the Drift Protocol exploit on Solana, with secondary reports alleging that stolen funds moved off the chain through Circle's Cross-Chain Transfer Protocol.
Rumors of a potential exploit targeting Drift Protocol, a Solana-based decentralized exchange specializing in perpetual futures trading, have sent its native DRIFT token into a sharp decline. The token plunged nearly 20% amid growing uncertainty, with no official confirmation from the platform at the time of reporting.
Drift Protocol, one of Solana's largest decentralized perpetual futures platforms, confirmed it was under active attack on April 1, 2026, halting all deposits and withdrawals as its total value locked fell more than 53% in less than a day. Early loss estimates from security firms and media reports ranged from $136 million to as high as $270 million, though no official postmortem or final accounting was available at press time.
Solana-based decentralized finance platform Drift confirmed an active security attack on Wednesday, temporarily suspending all withdrawals and deposits as it worked to contain the breach. The incident sent shockwaves through the crypto community and triggered a sharp sell-off in the platforms native token.
Drift Protocol got hit hard. The decentralized exchange lost $270 million Thursday night when hackers found a way into their smart contract system on Solana, marking one of the biggest DeFi thefts ever recorded on the blockchain.
The Solana-based perpetual contract exchange, Drift Protocol, has recorded a suspicious and massive outflow of funds totaling approximately $270M. Data from Arkham and confirmations from the Drift team on X indicate that the platform's “Vault” was emptied in a matter of minutes, slashing its holdings from $309M to just $41M across multiple asset types.
Drift Protocol has paused operations following an active attack, with early estimates suggesting losses near $285m
Drift Protocol suspended deposits and withdrawals after warning of an active attack as third party estimates put outflows near $270 million. Drift Protocol halts activity as suspicious transfers point to possible $270 million exploit.
Drift Protocol got hit hard. The decentralized finance platform lost more than $200 million on April 1 when hackers drained user accounts in what's becoming one of the biggest DeFi exploits this year.
Lookonchain flagged a suspected $270M Drift Protocol exploit earlier today, with assets moved to wallet HkGz4K as Solana traders watch for fallout.
Drift Protocol lost over $270M in an organized hack, with the funds immediately swapped on-chain, moved to Ethereum, and awaiting to be mixed in a move widely used by DPRK hackers.
The reported incident could be a $200 million exploit of the decentralized crypto exchange due to a leak of a crypto wallet private key.