Drift Outlines a Recovery Plan for Users After $295 Million DPRK-Linked Exploit

Drift outlines a recovery plan for users after $295 million DPRK-linked exploit

The lending Protocol proposed tokenized claims, a revenue-backed pool and a security overhaul as it works with law enforcement to recover the stolen funds.

Drift Issues Bounty on $295 Million Stolen in DeFi Hack

Cryptocurrency exchange Drift has outlined a plan to recover $295 million taken in a hack that led it to temporarily suspend trading.

Drift Protocol Releases Recovery Plan After $295 Million Exploit—Key Details

Drift Protocol announced on Tuesday that it has laid out a recovery plan for users affected by the April 1 exploit, an incident that resulted in a major loss of roughly $295 million in user funds on the lending decentralized exchange (DEX). Drift Protocol’s $295M Recovery Plan Drift Protocol’s plan centers on a recovery token system tied to verified losses. The protocol said that every wallet affected by the April 1 exploit will receive a recove…

Drift outlines a recovery plan for users after $295 million DPRK-linked exploit - Technology Shout

Drift Protocol announced on Tuesday that it would implement a recovery plan for users affected by a $295 million breach on April 1, attributed to the North Korean state-backed DPRK hacking group identified by forensics firm Mandiant. The attack caused the protocol to suspend trading and lending immediately after the exploit. Drift said that “most of the stolen assets remain traceable, and attackers have had limited successful outflows,” with app…

How Solana Exchange Drift Plans to Repay Users After $295 Million Crypto Hack

Solana's Drift Protocol says most of the stolen funds linked to North Korean hackers remain traceable—and it has a plan to make victims whole.