Crypto platform Drift Protocol is experiencing an active attack, resulting in a loss of over $285 million. The Solana-based perpetual futures exchange’s native token, DRIFT, plummeted 11% in a day.
The team behind Drift Protocol suspended deposits and withdrawals until further notice, citing an active attack. They are coordinating with multiple security firms to contain the incident. Top figures in the Solana ecosystem have warned traders of potential exploitation.
Over $285 million worth of cryptocurrencies, including USDC, Jupiter Perps, Fartcoin, and Wrapped Ethereum, left the platform. The hack highlights the risks of cryptocurrency trading platforms and the need for caution from users.
Source: https://finance.yahoo.com/markets/crypto/articles/solana-based-drift-protocol-investigates-185943778.html