🚨 DRIFT PROTOCOL EXPLOIT: $285M GONE IN MINUTES!
Drift Protocol, one of Solana’s largest perpetual futures DEXs, has been rocked by a major exploit.
📉 What Happened
• The attacker created a fake asset (CVT)
• Manipulated the oracle mechanism
• Bypassed the system using admin privileges
• Over $300M in liquidity in the vault plummeted to $40M within minutes
The funds were quickly
➡️ Converted to USDC
➡️ Transferred to Ethereum via CCTP
The Drift team confirmed the attack and suspended deposit/withdrawal operations.
📊 Result
• DRIFT token dropped by over 40%
• Trust in DeFi is being called into question
This incident once again demonstrated that Oracle + admin access + liquidity = the biggest risk point
Is DeFi truly decentralized, or does it just appear that way? 🤔