Drift Protocol allegedly hacked after exploit warning from Helius CEO, Mert Mumtaz
There is still no official confirmation, but the warning has raised concerns in the Solana markets.
The token DRIFT fell approximately 17% in an hour as traders reacted to the uncertainty.
The decentralized exchange Drift Protocol, built on Solana, was allegedly the victim of a hack. Although there is still no official confirmation, its token DRIFT plummeted nearly 20% following the rumors.
The decentralized exchange, which is based on Solana for perpetual futures trading, integrates Circle's USDC infrastructure to serve as collateral and for transfers.
Mert Mumtaz, co-founder and CEO of Helius, raised the alarm in a post on X.
He said there was a “high probability of a possible large exploit” and called for a response from Circle.
At first, the crypto community thought it was an April Fools' joke, but Mert expressed the urgency of the situation several times.
That uncertainty quickly spread through the market and the trading community. As a result, the DRIFT token experienced an immediate sell-off. Data shows that the token dropped more than 17% in an hour, falling to about $0.058.
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