Drift Protocol has been hacked, with losses estimated to be at least $200 million.
Drift Protocol Hit by $200M+ Hack, One of Solana's Largest DeFi Exploits
Solana-based decentralized exchange Drift Protocol has been hit by a major hack. Losses are estimated at over $200 million, with some reports putting the figure closer to $270 million. It's now the second-largest DeFi security incident on Solana, behind the Wormhole bridge exploit.
The attack targeted multiple Drift vaults, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking. On-chain data shows the attacker swapped stolen assets for USDC via Jupiter, then bridged to Ethereum to buy ETH. As of 17:45 UTC, the attacker held about 19,913 ETH—worth roughly $42 million.
Drift said it's investigating the abnormal activity and urged users to pause deposits. The DRIFT token is now trading at $0.05073, down 25.5% in the past 24 hours.
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