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The Drift Foundation has outlined the compensation plan following the protocol hack: users will receive 1 DFX token for every 1 USDT lost, with redemption amounts depending on the recovery pool balance that currently covers only about 1% of total claims; Tether has committed to providing up to $127.5 million USDT to support protocol restart and user compensation, with funds matched against Velocity's net protocol revenue rather than disbursed as a lump sum; the claims deadline is January 1, 2028, allowing users to choose to hold DFX or trade it on secondary markets such as Raydium, with the only official link being dfx.drift.trade.
victims of the Drift hack, a perpetual contract exchange on Solana, began filing claims on October 1. The recovery pool's initial funding stands at approximately $3.11 million against nearly $295.4 million in verified losses. Victims can redeem USDT through DFX tokens, with each $1 of loss converting to roughly 1.04 cents at launch, meaning a $1,000 loss corresponds to about $10.40.The total supply of DFX is fixed at 299,500,810.998 tokens, with each token corresponding to $1 of verified loss from the April incident, and no additional tokens will be minted. Holders can choose to burn DFX to redeem USDT, sell on secondary markets such as Raydium, or continue holding their claims. Completed redemptions are irreversible, and unclaimed tokens will expire after the claims window closes on January 1, 2028.Future funding for the recovery pool includes a portion of daily net protocol revenue from Velocity, the rebranded exchange rebuilt by Drift, up to $127.5 million in USDT committed by Tether, $20 million in USDT committed by strategic partners, and recovered stolen assets. On the first Friday after claims opened, approximately 216,480 DFX tokens were redeemed for about 2,250 USDT, with Velocity's first revenue transfer amounting to 31 USDT; approximately 13,025.9 ETH is spread across 4 Ethereum wallets, another approximately 2,309.4 ETH passed through Tornado Cash, and about $9.2 million in assets have been frozen at other addresses. (Bitcoin.com News)
according to DefiLlama data, Q2 2026 has become the most active quarter on record for crypto hacks, with 83 separate attack incidents, setting a new all-time high.Despite the increased frequency of attacks, the total losses for the quarter were approximately $755.3 million, still lower than the $3.56 billion lost in Q4 2020. Of this, the $293 million attack on KelpDAO and the $280 million attack on Drift Protocol accounted for more than three-quarters of the quarter's total losses. Cross-chain bridges were the largest source of losses, with related attacks leading to approximately $351 million being stolen. Earlier this month, Humanity Protocol lost $36 million, Aztec Connect experienced two attacks on passive smart contracts, each losing about $2.1 million, and decentralized exchange Raydium suffered a $1.3 million attack in June. (financefeeds)
blockchain security analyst Specter posted on X platform, stating that an old liquidity pool of the Solana DeFi protocol Raydium is suspected of being attacked, with the attacker stealing approximately $1.34 million in assets, mainly including USDC, RAY, and wSOL. Currently, the hacker has transferred the stolen funds to Ethereum via a bridge and subsequently deposited them into Tornado Cash for mixing.