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  2. Published Social post

    The Block (@TheBlockCo)

    THE BLOCK: Drift exploit victims can now claim recovery tokens, but cashing out at launch gets them back just over 1% of what they lost. Those who wait could get a bigger slice of the pie as more money flows into the pool over time. So far, about 216,440 $DFX have been burned for roughly $2,250 in payouts.

  3. Published Social post

    Wu Blockchain (@WuBlockchain)

    Drift Launches DFX Redemptions, Issuing 1 DFX per $1 Lost but With Each Token Currently Redeemable for Only About $0.01 Drift Foundation said DFX claims and redemptions are now live for users with verified losses from the April 1 incident, with 1 DFX issued for every 1 USDT lost. Each DFX represents a claim on the Recovery Pool, which currently holds about 3.11 million USDT and is funded by a share of Velocity’s daily net protocol revenue, up to 127.5 million USDT from Tether, up to 20 million USDT from strategic partners, and any recovered funds. DFX can be redeemed for USDT at a rate equal to the Recovery Pool balance divided by outstanding supply. Redeemed DFX will be burned and redemptions are final. The claim window closes at 00:00 UTC on January 1, 2028, after which unclaimed DFX will be burned.

  4. Published Social post

    Wu Blockchain (@WuBlockchain)

    Drift Launches DFX Claims and Redemptions for April 1 Losses; Each DFX Redeemable for USDT Based on Recovery Pool Balance and Outstanding Supply Drift Foundation said DFX claims and redemptions are now live for users with verified losses from the April 1 incident, with 1 DFX issued for every 1 USDT lost. Each DFX represents a claim on the Recovery Pool, which currently holds about 3.11 million USDT and is funded by a share of Velocity’s daily net protocol revenue, up to 127.5 million USDT from Tether, up to 20 million USDT from strategic partners, and any recovered funds. DFX can be redeemed for USDT at a rate equal to the Recovery Pool balance divided by outstanding supply. Redeemed DFX will be burned and redemptions are final. The claim window closes at 00:00 UTC on January 1, 2028, after which unclaimed DFX will be burned.

  7. Published Social post

    Velocity (@VelocityDEX)

    Thank you, Cindy. Today, Cindy Leow steps down from Velocity (prev Drift). We want to thank her for the five years she gave to this protocol, and especially for the last six months. Now, the rest of the team she helped build over those years will continue to run Velocity and the protocol. It has been more than 5 years since Cindy, David, Chris & Zane founded the company as Drift, now Velocity, when running a fully on-chain perpetuals protocol was still unproven. Drift launched on Solana in 2021 as one of the first fully on-chain perpetual exchanges and grew into one of the biggest venues on the chain, with more than $150B traded since. The team built everything from the ground up, from the matching engine to the account system, vaults, and earn products. The protocol itself grew alongside the community. Cindy has put years of her working life into this protocol, and we want to thank her for that work. Since April, we've undertaken a huge effort: rebuilding in public and preparing and executing a plan to support users and help the protocol recover. On 16th April, Drift secured a support package from Tether. In July, the exchange returned under a new name, Velocity, and this month, Velocity Beta went live with five markets. The team also put the protocol through a full audit with OtterSec, working toward one plain goal: an exchange people could trust again. The audit of the protocol’s code has been published, and the code has also been open-sourced. The team is now working on significant under-the-hood improvements, including a new order flow system that will improve user experience and order-matching speed, and will continue adding new features, markets, and collaterals the community requests. The future of the protocol will now be run by the team that helped rebuild it. David continues to work without remuneration with Drift Foundation on asset recovery and coordinating the law enforcement efforts; Kevin is on product; Noah on protocol engineering; Tracy on business development and partnerships; and Naman on growth, alongside the rest of the team and the community. The direction remains the same: a leaner, safer decentralized protocol for perpetuals trading on-chain, with crypto today and equities next. Thank you, Cindy, for helping build this protocol and getting us this far with the Velocity Beta relaunch.

  8. Published Social post

    GoPlus Security 🚦 (@GoPlusSecurity)

    ⚠️Top 10 Security Incidents (January–June 2026) 1：KelpDAO, April 18, loss of approximately $292 million. The attacker exploited a verification flaw in the LayerZero-related cross-chain bridge validation flow, released a large amount of unbacked rsETH, and rapidly supplied it to protocols including Aave, Compound, Euler, and Fluid for borrowing and cashing out, ultimately evolving into a cross-protocol bad debt contagion event. 2：Drift Protocol, April 1, loss of approximately $285 million. The attacker obtained protocol administrative control by leveraging durable nonce, social engineering, and weaknesses in multisig governance, then introduced forged collateral assets and manipulated protocol parameters to drain a large amount of real assets from the protocol. 3：Step Finance, January 31, loss of approximately $40 million. The compromise of high-privilege devices and the treasury private key system resulted in significant asset losses. On February 24, the project announced it would cease operations. 4：Humanity Protocol, June 9, loss of approximately $31 million to $36 million. The root cause was improper management of private keys and multisig keys. After compromising critical devices, the attacker took over bridge administrative privileges and carried out fund transfers and abnormal minting across multiple chains. 5：Truebit, January 8, loss of approximately $26.6 million. The attacker exploited an integer overflow/pricing logic flaw in a legacy contract to mint a large amount of TRU at low cost and dump the tokens on the market, causing the token price to collapse rapidly. 6：Resolv Labs, March 22, loss of approximately $25 million. After obtaining high-privilege signing capabilities, the attacker exploited the lack of supply caps and ratio validation in the minting logic to mint approximately 80 million unbacked USR and cash them out. 7：SwapNet, January 25, loss of approximately $13.4 million. Its closed-source contract contained arbitrary-call / approval abuse risks. The attacker leveraged users' existing approved allowances to trigger malicious transferFrom calls and drained users' assets at scale. 8：Verus-Ethereum Bridge, May 18, loss of approximately $11.58 million. The cross-chain bridge failed to strictly verify whether the source-chain input amount matched the destination-chain release amount during the validation process. The attacker exploited this flaw to forge valid payloads and withdraw assets. 9：YieldBlox, February 22, loss of approximately $10.97 million. The attacker manipulated the price of USTRY in a low-liquidity market, causing the oracle to overestimate the collateral value, and then executed excessive borrowing from the Stellar lending pool. 10：THORChain, May 15, loss of approximately $10.7 million. A newly joined node operator exploited weaknesses in the GG20 threshold signature scheme, compromised a single vault, and withdrew assets across multiple chains, exposing the systemic risks of cross-chain signing infrastructure.

  9. Published Social post

    CoinDesk (@CoinDesk)

    JUST IN: @DriftProtocol unveils user recovery plan after April 1 exploit. Impacted wallets will receive recovery tokens representing verified losses and a proportional claim on a recovery pool (~$3.8M in assets). Final terms subject to DAO vote.

  11. Published Social post

    CoinDesk (@CoinDesk)

    INSIGHT: North Korean spies spent months meeting Drift Protocol employees in person before draining $285M in the largest social engineering attack ever recorded against a crypto protocol. North Korean hackers now account for 76% of all crypto hack losses in 2026, per @TRMlabs

  15. Published Social post

    CoinDesk (@CoinDesk)

    ALERT: North Korea-linked hackers have siphoned more than $500M across the @DriftProtocol and @KelpDAO exploits in just over two weeks. What looked like isolated breaches now resembles a sustained, state-driven campaign 🧵 Reporting by @cryptauxmargaux

  19. Published Social post

    Drift (@DriftProtocol)

    Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery. These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool. Learn more 👇

  20. Published Social post

    Wu Blockchain (@WuBlockchain)

    Tether Commits $127.5 Million to Support Drift Protocol Recovery Drift Protocol has partnered with Tether and other backers to support user recovery following the April 1 exploit. Tether plans to provide up to $127.5 million, with an additional $20 million from partners. The package includes a $100 million revenue-linked credit line, ecosystem grants, and loans for market makers. Most exchange revenue, along with committed support funds, will be used to establish a dedicated recovery pool aimed at covering $295 million in outstanding user losses.

  21. Published Social post

    CoinDesk (@CoinDesk)

    EXCLUSIVE: @DriftProtocol, the victim of a recent North Korean exploit, plans to relaunch with @Tether's $USDT as its settlement layer after securing a proposed funding package of up to $147.5 million from the stablecoin issuer and partners. @willcanny99 reports.

  24. Published Social post

    CoinDesk (@CoinDesk)

    ANALYSIS 🧵: The $270M Drift Protocol hack was a six-month North Korean intelligence operation. Attackers posed as a quant trading firm, met contributors in person at conferences across multiple countries, and deposited $1M of their own capital before executing the drain.

  26. Published Social post

    Wu Blockchain (@WuBlockchain)

    Drift Protocol Releases Results of Investigation into $285 Million Theft It states that the attack appears to be a long-term, organized infiltration operation lasting approximately six months. Since the fall of 2025, attackers posed as a quantitative trading firm, continuously contacting Drift team members at multiple international crypto conferences and compromising devices through code repository links and the TestFlight application. Drift indicates that this operation may be linked to the North Korean-related hacking group behind the 2024 Radiant Capital theft. https://x.com/DriftProtocol/status/2040611161121370409

  31. Published Social post

    Wu Blockchain (@WuBlockchain)

    WuBlockchain Weekly: US Proposes Relaxing Rules for 401(k) Plans to Invest in Crypto, Google Highlights Quantum Threats to Cryptography, Drift Hacked with $285 Million Stolen, Alabama Recognizes DAOs, Coinbase Gets OCC Nod for Trust Bank, Cuba Approves Crypto Cross-Border Payments.

  34. Published Social post

    CoinDesk (@CoinDesk)

    UPDATE: Blockchain analytics firm @Elliptic says the $285M exploit of @DriftProtocol carries multiple indicators of North Korean state-sponsored hacker involvement, citing laundering patterns consistent with previous DPRK-linked crypto thefts.

  36. Published Social post

    Arkham (@arkham)

    DRIFT EXPLOIT: WHERE IS THE MONEY? The Drift Exploiter stole $278.5M from Drift through a malicious admin transfer. They moved it onto Ethereum where it now sits in 4 addresses: 0x0FE3b6908318B1F630daa5B31B49a15fC5F6B674 0xD3FEEd5DA83D8e8c449d6CB96ff1eb06ED1cF6C7 0xbDdAE987FEe930910fCC5aa403D5688fB440561B 0xAa843eD65C1f061F111B5289169731351c5e57C1

  42. Published Social post

    Drift (@DriftProtocol)

    We are observing unusual activity on the protocol. We are currently investigating. Please do not deposit funds into the protocol while we investigate. This is not an April Fools joke. Proceed with caution until further notice. We’ll provide additional updates from this account.

  44. Published Social post

    Lookonchain (@lookonchain)

    Drift Protocol appears to have been exploited, with over $270M in assets suspiciously transferred to wallet HkGz4K. 🚨 That's crazy! https://intel.arkm.com/explorer/address/HkGz4KmoZ7Zmk7HN6ndJ31UJ1qZ2qgwQxgVqQwovpZES

  48. Published Social post

    Drift (@DriftProtocol)

    Drift 2026: Open Perps Layer for Solana Dear Community, We know this has been a difficult period. The broader market is down, and Drift has seen better times. If you’re feeling uncertain about where Drift is headed, that’s understandable — and we want to address it directly. Here’s what remains constant: we believe that Solana will become the onchain NASDAQ. In 2025, Solana’s Perp DEX trading volume hit $451.2 billion — more than all previous years combined. The infrastructure transition from CEX to DEX is happening. The only question is: which protocol will traders use and developers build on? Drift will be that protocol. We’ve been building on Solana since 2021, through multiple cycles, and we’re making deliberate moves to ensure we’re the foundation for perpetuals trading when Solana becomes the primary venue for derivatives. This article explains why we have more conviction than ever and what’s next for Drift. Why Solana Wins Perps In 2025, prop AMMs proved something critical: Solana’s architecture gives it a structural edge for trading applications. In less than a year, prop AMMs displaced traditional AMMs for spot trading because Solana makes CEX-competitive execution economically viable onchain. The mechanics are straightforward: Low fees make streaming oracle updates cost a fraction of a normal swap High throughput lets market makers refresh quotes many times per second Jito’s BAM allows precise execution ordering without gas wars The result: Binance-like spreads, natively onchain — on Solana, on Drift. Billions in spot volume are shifting from CEXs to Solana DEXs. The same advantages that work for spot—low latency, high throughput, economic viability of high-frequency market making —apply more powerfully to perpetuals. Drift’s Strategy: Open-Source Infrastructure Solana has the strongest developer culture in crypto. Developers don’t just use protocols — they fork them, build on them, remix them. That composability is why Solana’s growth has been exponential. Drift's code has always been open-source. This isn’t a pivot — it’s a return to first principles. Early on, developers across the ecosystem, including those from Ellipsis and Temporal, built meaningful integrations and extensions on Drift. External contributors improved our codebase so significantly that several joined the core team full-time. That's the model we're returning to: making Drift the foundation other builders choose because it's accessible, auditable, and composable. We're working closely with Solana's infrastructure community to ensure Drift becomes the most capital-efficient perps implementation ever built. This means: Code accessibility: We’re making it easier for developers to fork, extend and contribute to Drift’s infrastructure Developer-ecosystem focus: Exploring initiatives like grants, hackathons, improved SDKs and better documentation When developers can compose with Drift, they unlock use cases we can't predict. That's how the Drift ecosystem will scale. The Technical Build: Multiple Liquidity Models, One Protocol This year, we’re building two complementary systems that serve different trading needs: Prop AMM for Retail and Mid-Size Flow We're bringing the prop AMM model to perpetual futures: the same innovation that made Solana dominant for spot trading, applied to leverage trading. What this delivers: CEX-competitive spreads directly on Solana Deep liquidity concentrated around oracle prices via high-frequency market making CLOB for Sophisticated Capital Prop AMMs are useful for filling retail flow at a good price. But sophisticated traders and institutional capital need tools that further enhance their trading experience: price-time priority, robust limit orders, the ability to place large orders without slippage. Our CLOB (central limit order book) using Jito’s BAM enables: True price-time priority matching Large order handling with limit orders Institutional-grade execution for the capital that demands precision Multiple liquidity models under one protocol. Market makers get the prop AMM for tight spreads. Sophisticated traders get the CLOB for precision execution. Both benefit from Solana's speed and cost structure. How This Creates Token Value We understand that there have been concerns about the token. We’ll be direct about our approach: The DRIFT token will earn its valuation from protocol usage, not financial engineering. Through governance proposals and community discussions, the community has explored different models to tie token value back to protocol usage. We're deploying treasury resources toward what actually builds long-term value that will drive protocol revenue, including developer ecosystem, infrastructure improvements, and the fundamentals that drive real usage. This is the approach every sustainable DeFi token takes: grow usage and the ecosystem first, then let token value follow from genuine utility. As Drift becomes the perps layer that other Solana protocols build on (not just trade through), DRIFT captures value from being an indispensable token for the most performant open perps protocol. This is will create sustainable value over time for DRIFT. Why Drift Wins If you believe Solana becomes the primary venue for onchain derivatives trading, then Drift — as the open-source perps infrastructure — is the bet to make. Drift has: Years of experience building perps infrastructure since 2021 Strong funding to execute this roadmap through market cycles Technical thesis rooted in Solana's unique structural advantages Commitment to being the open foundation other builders use We've proven we're anti-fragile. We've shipped through multiple cycles. Now we're building to be the protocol that defines perpetuals trading on Solana. Betting on Drift is believing that Solana wins perps. Onwards and Upwards, The Drift Team

  49. Published Social post

    Lookonchain (@lookonchain)

    Whales/institutions have been accumulating #Solana #DeFi tokens recently. Over the past 2 days, three wallets withdrew $15.9M worth of #DeFi tokens from exchanges, including: 7.39B $PUMP($13.77M) 8.02M $CLOUD($621K) 9.06M $KMNO($539K) 1.33M $JTO($521K) 3.05M $DRIFT($479K) https://twitter.com/i/web/status/2006198649844564157

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