Drift
Coverage of Drift in the Nexus archive.
- Drift outlines a recovery plan for users after $295 million DPRK-linked exploit
Drift has outlined a recovery plan for its users after a $295 million exploit linked to DPRK. The plan aims to help users recover from the significant financial loss. The incident highlights the increasing threat of cyber attacks
- Ripple to Share North Korean Threat Intelligence With Crypto Industry
Ripple will share North Korean threat intelligence with the crypto industry following two major exploits of DeFi protocols Drift and KelpDAO in April. The DPRK hackers are shifting to social engineering tactics. This move aims to enhance security measures within the crypto industry.
- Ripple shares North Korea-linked threat data as crypto attacks shift to social engineering
Ripple shared data on North Korea-linked threats as crypto attacks shift to social engineering tactics, demonstrated by the recent $280 million Drift incident. This shift indicates a change in attack strategies, focusing on more sophisticated methods. The Drift incident highlights the growing concern of social engineering in crypto attacks.
- DeFi protocol Carrot becomes first casualty of $285M Drift exploit
DeFi protocol Carrot has seen its total value locked (TVL) plummet 93% in a month, from $28 million to $1.99 million, rendering the protocol financially unsustainable following the $285M Drift exploit.
- almost 1b wiped out of the market only in hacks is actually insane
April 2024 was the worst month for crypto hacks, with over $600 million lost in incidents including major breaches at KelpDAO ($293M) and Drift ($285M). Additional hacks at platforms like Rhea Lend, Grinex, and smaller protocols like CoW Swap and Hyperbridge contributed to cumulative losses, highlighting systemic vulnerabilities in the crypto ecosystem.
- almost 1b wiped out only in hacks is actually insane
April was the worst month for crypto hacks in a long time, with over $1 billion lost across multiple incidents. Major breaches included KelpDAO ($293M) and Drift ($285M), followed by smaller but significant attacks on platforms like Rhea Lend, Grinex, and others including CoW Swap, Hyperbridge, and Bybit.
- The long con: How North Korean spies spent months in-person to drain $285 million from Drift
North Korean spies conducted an in-person operation over months to steal $285 million from Drift, a financial entity. The prolonged physical infiltration highlights sophisticated tactics used in cybercrime and espionage.
- Recent DeFi Exploits Highlight Ongoing Security Risks (~$800M Reported)
Recent DeFi exploits have resulted in over $800M in reported losses, with multiple protocols including Kelp DAO, Drift, and Wasabi affected. Key vulnerabilities highlighted include compromised deployer keys and smart contract flaws, underscoring ongoing security challenges in the DeFi ecosystem.
- we haven’t seen hack numbers like this in a while and that usually means something uglier is breaking underneath
April 2025 saw $623M lost to crypto hacks, driven by two major exploits: $290M Kelp DAO and $280M Drift. This surpassed the first quarter's total losses and marked the worst month since the February 2025 Bybit breach, signaling systemic vulnerabilities in the industry.
- Solana Foundation Is Helping AAVE With USDT To Support Their Recovery Efforts & Bringing $AAVE To Solana This Weekend
The Solana Foundation is lending USDT to Aave to support their recovery efforts and will introduce $AAVE on Solana this weekend. This collaboration highlights a united DeFi ecosystem across different blockchains.
- Litecoin hit with a zero day attack
Litecoin experienced a zero-day attack targeting its MWEB privacy layer, coupled with a coordinated Denial of Service (DoS) on major mining pools. The attack allowed invalid peg-outs, affecting protocols like Near Intents and THORChain, with potential losses up to $600k. DeFi protocols have seen over $750 million in exploits in 2026, including attacks on Kelp DAO and Solana-based Drift.
- Talking Tokens Podcast - Why Tokenization Does Not Work Without This | With Ayyan Rahman, Cofounder Of OnRe Finance
The Talking Tokens Podcast episode with Ayyan Rahman, cofounder of OnRe Finance, discusses the challenges of tokenization, the need for DeFi and real-world assets (RWAs) compatibility, and the role of reinsurance in DeFi. It also addresses security risks highlighted by recent exploits like Drift and Kelp DAO.
- How you guys are keeping you safe in DeFi?
The article discusses safety measures in DeFi, specifically mentioning KelpDAO and Drift. It poses a question about strategies users employ to stay secure in decentralized finance environments.
- THIS WEEK IN MEDIA - 4/3-4/17
Solana dominates onchain trading with 41% Q1 market share, secures major upgrades and partnerships, including Singapore Gulf Bank's USDC settlement and Y Combinator's USDC funding. Tether supports Drift's $150M recovery plan, while new infrastructure initiatives like STRIDE and DoubleZero's high-speed data expand Solana's ecosystem.
- North Korea hacked Drift. Tether bailed it out. Now Circle has a lawsuit.
North Korea is accused of hacking Drift, a crypto platform, leading to Tether providing financial support. Circle, another crypto company, is now involved in a related lawsuit.
- Circle hit with class action lawsuit over alleged inaction in $280 million Drift exploit
Circle faces a class action lawsuit from law firm Gibbs Mura, alleging failure to act swiftly to freeze $280 million in stolen USDC following the Drift exploit.
- Drift Taps Tether for $148 Million Recovery Plan, Ditches Circle's USDC Following DeFi Exploit
Drift has partnered with Tether to recover $148 million following a DeFi exploit, replacing Circle's USDC as its stablecoin. Circle faces criticism for allowing stolen funds to be moved via its cross-chain protocol.