Hackers breach the largest DEX of derivatives on Solana and steal USD 270 million
Drift Protocol confirmed an active attack that drained USD 270M from its vaults, the largest exploit on Solana since the Wormhole hack in 2022.
Among the stolen assets are USDC, WBTC, WETH, cbBTC, and JLP tokens worth USD 155M.
The attacker converted the funds into USDC and bridged them to the Ethereum network.
Drift Protocol, the leading decentralized exchange for perpetual futures on the Solana network, was the victim of an exploit this Wednesday, April 1, which resulted in the unauthorized transfer of approximately USD 270 million in digital assets, equivalent to nearly 50% of the total value locked (TVL) of the platform.
The attack was confirmed by the Drift team itself. In a statement published on X, the platform noted that it was observing "unusual activity" in the protocol and urged users not to deposit funds while the incident was being investigated. The team added that it suspended deposits and withdrawals, and was coordinating with security firms, bridges, and exchanges to contain the situation. "This is not an April Fools' joke," they clarified.
Drift Protocol is a decentralized and open-source trading platform built on Solana, considered a central piece of the ecosystem for trading perpetual futures, with a TVL exceeding USD 550 million prior to the attack.
On-chain data indicates that the exploit began around 4 PM UTC, with an initial transfer of USD 155 million in JLP tokens from one of the protocol's vaults. Among the drained assets are USDC, cbBTC, WBTC, WETH, and other tokens. The attacker's address, recently created, received the transfers and began converting the assets into $USDC before transferring them to $ETH Ethereum.
#Squar2earn #Square #Write2Earn
Drift Protocol confirmed an active attack that drained USD 270M from its vaults, the largest exploit on Solana since the Wormhole hack in 2022.
Among the stolen assets are USDC, WBTC, WETH, cbBTC, and JLP tokens worth USD 155M.
The attacker converted the funds into USDC and bridged them to the Ethereum network.
Drift Protocol, the leading decentralized exchange for perpetual futures on the Solana network, was the victim of an exploit this Wednesday, April 1, which resulted in the unauthorized transfer of approximately USD 270 million in digital assets, equivalent to nearly 50% of the total value locked (TVL) of the platform.
The attack was confirmed by the Drift team itself. In a statement published on X, the platform noted that it was observing "unusual activity" in the protocol and urged users not to deposit funds while the incident was being investigated. The team added that it suspended deposits and withdrawals, and was coordinating with security firms, bridges, and exchanges to contain the situation. "This is not an April Fools' joke," they clarified.
Drift Protocol is a decentralized and open-source trading platform built on Solana, considered a central piece of the ecosystem for trading perpetual futures, with a TVL exceeding USD 550 million prior to the attack.
On-chain data indicates that the exploit began around 4 PM UTC, with an initial transfer of USD 155 million in JLP tokens from one of the protocol's vaults. Among the drained assets are USDC, cbBTC, WBTC, WETH, and other tokens. The attacker's address, recently created, received the transfers and began converting the assets into $USDC before transferring them to $ETH Ethereum.
#Squar2earn #Square #Write2Earn