Discussion

• @driftprotocol @driftprotocol on x

  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.

• @driftprotocol @driftprotocol on x

  Drift Protocol is experiencing an active attack. Deposits and withdrawals have been suspended. We are coordinating with multiple security firms, bridges, and exchanges to contain the incident. This is not an April Fools joke. We'll provide additional updates from this account as

• @lookonchain @lookonchain on x

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

• @lookonchain @lookonchain on x

  The Drift Protocol exploiter is swapping the $270M+ stolen assets into $USDC, then bridging to #Ethereum to buy $ETH. 🚨 So far, they have bought 19,913 $ETH ($42.6M). https://intel.arkm.com/... https://x.com/... [image]

• @wazzcrypto @wazzcrypto on x

  Drift summary: - $200M stolen and no one noticed for an hour - Apparently a single compromised admin key (lol) - Hacker still came in for seconds 2 hours after the hack to drain a few extra millions - Hacker still bridging out $USDC 3 hours after the hack wp everyone

• @azflin @azflin on x

  “Solana DeFi never gets hacked bro” “Contracts are unverified so hackers can't read the source code to attack” 🤣🤣

• @lookonchain @lookonchain on x

  The Drift Protocol exploiter also deposited $SOL into #HyperLiquid and sold it to buy $ETH. The Drift Protocol exploiter even deposited $SOL into #Binance. https://intel.arkm.com/... https://x.com/... [image]

• @phantom @phantom on x

  We're aware of reports regarding Drift Protocol, and our security team is investigating. Users trying to access Drift through Phantom will see a required warning that there may be unique risks in accessing Drift right now. Those who still want to access their funds will have the

• @jupiterexchange Jupiter on x

  Jupiter is not affected by the Drift situation. Jupiter Lend has no exposure to Drift's markets and JLP is fully backed by the underlying assets. That said, this a difficult day for Solana DeFi and our heart goes out to the Drift team and everyone affected.

• @newmichwill Michael Egorov on x

  Almost wanted to say something about code safety, but hearing it's not even that. Sounds like a usual risk management failure in a lending protocol + drain via a “weak collateral”. Anyhow, DeFi on Ethereum went over these lessons already. Solana ecosystem is still learning

• @loopify @loopify on x

  bro said unusual activity it's $270M that got drained

• @godenis Denis Dariotis on x

  Drift hack + Backpack TGE issues show why Solana DEX volume is struggling. Public order books = easy front-running. Hyperliquid is winning. @GoDark fixes it: decentralized dark pool on Solana. Hidden orders. No MEV. Full self-custody. Fast and private execution.

• @stevensarmi Steven on x

  Watch who starts bashing in times like these when people are down, get receipts because those people you should unfollow/block. This is a terrible look on our entire industry. This is a very shit situation, we don't know how the exploit/hack happened, what the vector was,

• @perena @perena on x

  A quick note on the recent developments around Drift. USD* is not affected. USD* has no counterparty exposure to Drift, and USD*'s yield strategies do not depend on Drift. However redemptions are temporarily paused as a precaution to ensure user safety.

• @fabianosolana @fabianosolana on x

  Drift had a 2/5 multisig with 0 timelock $280M gone... I checked other defi protocols on Solana: - Jupiter Lend: 4/7 (with 12h timelock) - Kamino: 5/10 (with 12h timelock) - Loopscale: 3/5 - Solstice: 3/5 (with 1d timelock) - Exponent: 2/3 [image]