The Solana yield protocol, Carrot, confirmed the cessation of its operations following the devastating exploit suffered by Drift Protocol in early April. The project management reported that the attack, which drained approximately $8 million in Total Value Locked (TVL) from its vaults, made the continuity of the service unsustainable. Faced with this “catastrophic” situation, the team has enabled a voluntary withdrawal period for users to recover their remaining assets before the final liquidation.
1/ Carrot is shutting down
This is certainly not the outcome we wanted, but the situation with the Drift exploit, has proven to be catastrophic for our continued operations.
— Carrot (@DeFiCarrot) April 30, 2026
This closure marks a negative milestone for the DeFi ecosystem on Solana, with the Drift exploit being the largest of 2026. Carrot, which operated for two years as a “yield operating system,” was directly affected due to its deep integration with Drift’s liquidity. The impact is reflected not only in the loss of funds but also in the adjustment of the net asset value of the CRT token, highlighting the risks of interconnectivity and contagion within decentralized finance when a base protocol collapses.
Users of the Boost, Turbo, and CRT products have until May 14, 2026, to withdraw their funds manually. Once the deadline passes, the team will begin a total deleveraging process of positions to release the remaining liquidity. Affected parties are advised to monitor official Discord and X channels for any updates regarding possible future distributions derived from a recovery of funds by Drift.
Source:https://x.com/DeFiCarrot/status/2049907092664762624
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