Drift Faces Backlash After Insurance Fund Withdrawal Update
The Drift Protocol team announced that depositors of its Insurance Fund will be able to withdraw their capital once the platform formally restarts. The update comes
Drift Protocol (Latest Publications)
Drift Sparks Crypto Backlash Over Plan to Convert Exploit Funds Into USDT
TL;DR: Exploit amount: The attack on April 1, 2026, resulted in the loss of approximately $285 million after the governance system was compromised. USDT Reserve: Proposal
Solana Community Splits Over Drift’s Controversial Recovery Token and Planned Q2 Comeback
TL;DR: Issuance of a recovery token at a rate of 1 unit for every 1 USD of verified loss for affected users. The recovery fund starts
Drift Protocol Outlines User Recovery Plan Ahead of Relaunch and Governance Vote
TL;DR: 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
The Lazarus-Driven $606M April Hack Wave: Is DeFi’s Security Model Fundamentally Broken?
April 2026 should unsettle anyone still treating DeFi security as a sequence of isolated bugs. The month’s early tally, more than $606 million stolen across 12
Solana Yield Protocol Carrot Collapses After $8M TVL Wiped Out in Drift Exploit
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
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
Safer Smart Contracts, Bigger Losses? Crypto Still Bleeds $450M to Hacks
TL;DR Smart contracts security improved significantly in Q1 2026, with exploit losses dropping 89% year over year, yet total crypto losses still reached about $450M across
Drift Protocol Outlines Major Recovery Effort With Proposed Funding From Tether and Additional Partners
TL;DR: Drift Protocol published a recovery plan following the April 1 exploit in which approximately $295.7 million in user assets were lost. Tether will contribute up
XRPL Validator Issues Urgent Warning to XRP Users Over Rising Social Engineering Attacks
TL;DR: XRPL validator Vet warned XRP builders after the $280 million Drift exploit showed how social engineering can defeat workflows and access controls. The attackers reportedly
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