Drift Protocol
Coverage of Drift Protocol in the Nexus archive.
- Crypto hacks fell 47% in H1 but ecosystem is no safer: CertiK
Crypto hacks decreased by 47% in H1, but Q2 saw a 59% rise in exploits to $807.5 million, driven by attacks on KelpDAO and Drift Protocol attributed to North Korean hackers.
- How Solana Exchange Drift Plans to Repay Users After $295 Million Crypto Hack
Solana's Drift Protocol was hacked for $295 million in a crypto hack linked to North Korean hackers, but most of the stolen funds remain traceable. The protocol plans to repay users who were affected by the hack. The majority of the stolen funds are still traceable.
- DeFiCarrot to Shut Down Operations After Drift Exploit.
DeFiCarrot, a Solana-based DeFi yield automation protocol, is shutting down operations following a $285 million exploit on Drift Protocol in April 2026. Users must withdraw funds by May 14, 2026, after which positions will be deleveraged, and liquidity released for redemptions.
- This April We Saw $805 Million Lost in DeFi Hacks
In April, $805 million was lost through DeFi hacks targeting platforms like Kelp Dao, Drift Protocol, and Grinex. Attacks involved methods such as social engineering and domain hijacking, with North Korea-backed Lazarus Group suspected as the primary threat actor.
- Tether froze $344M for Iran sanctions and nobody’s talking about what that means
Tether froze $344 million in USDT linked to Iran sanctions, highlighting stablecoins' role in enforcement. Crypto faced $606 million in hacks in April, with Drift Protocol and KelpDAO (both tied to Lazarus) accounting for 95% of losses. Institutional players like Grayscale and Bitmine staked $500 million in ETH.
- Circle Hit With Class Action Lawsuit Over $285M Drift Protocol Hack
Circle faces a class action lawsuit over a $285 million hack on the Drift Protocol, with lawyers alleging the company failed to freeze stolen USDC during an eight-hour window. The lawsuit claims Circle did not take immediate action to prevent the hackers from moving the funds.
- At least a dozen crypto entities attacked since Drift Protocol hack
At least a dozen crypto entities have been attacked since the Drift Protocol hack, with Rhea Finance and the Russia-linked Grinex exchange recently targeted in attacks totaling $21 million.
- Drift Protocol Announces Major Recovery and Relaunch Initiative.
Drift Protocol has partnered with Tether and other partners to commit up to $147.5 million for user recovery and protocol relaunch after the April 1 exploit. The initiative includes a $100 million revenue-linked credit facility, ecosystem grants, and a new transferable recovery token, with the relaunch focused on USDT settlement and enhanced security measures.