Drift Protocol

Highlights: Circle faces a proposed class action over its response to the stolen USDC after the Drift hack. Plaintiffs say Circle could have frozen funds earlier as attackers moved assets across networks. Circle previously said it can freeze funds only […]

Highlights: Circle has explained why it failed to freeze stolen USD during the Drift Protocol exploit. The stablecoin issuer argued that freezing assets without legal backing could encourage politically motivated interference. Circle is also pushing for the advancement of the […]

Highlights: ZachXBT report shows Circle did not freeze stolen USDC across several cases. Drift hack shows attackers moved USDC for six hours before any freeze action happened. Slow USDC freezes let attackers move and convert funds before anyone can stop […]

Highlights: Drift Protocol has opened on-chain talks with wallets tied to the stolen funds. The exploit has expanded, affecting at least 20 Solana protocols. Cyvers said the attacker likely prepared the operation days earlier. The Solana-based decentralized exchange (DEX) Drift […]

Highlights: Ledger CTO tied the Drift exploit to the same signer deception seen in the Bybit breach. More than $230 million moved from Solana to Ethereum through Circle’s CCTP. Drift’s TVL fell below $250 million as the DRIFT token extended […]

Highlights: Solana fell after the $285 million Drift Protocol hack hurt market sentiment. Stable trading volume showed SOL stayed strong despite the exploit. Market rebound and Clarity Act hopes could push Solana toward $96. Solana (SOL) is in the red […]

Highlights: Drift Protocol suffers a $285 million loss after a coordinated attack on the exchange. The DEX platform reported that the compromise was a result of unauthorized access to key approvals.  Drift Protocol has already initiated appropriate steps to track […]