{"id":8041,"date":"2026-04-02T09:41:37","date_gmt":"2026-04-02T09:41:37","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=8041"},"modified":"2026-04-02T09:41:37","modified_gmt":"2026-04-02T09:41:37","slug":"200m-hack-hits-drift-protocol-as-solana-dex-freezes-activity","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=8041","title":{"rendered":"$200M Hack Hits Drift Protocol as Solana DEX Freezes Activity"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_933cd59624bf025dafd89716acc9e76f\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Drift Protocol confirmed an active attack on April 1, 2026, with at least US$200 million drained from its Solana-based vaults.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Security firm PeckShield identified a compromised admin private key as the likely attack vector, with stolen assets including USDC, wrapped Bitcoin, wrapped Ethereum, and JLP.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The DRIFT governance token dropped roughly 28% on the day to approximately US$0.049, extending a decline of about 98% from its November 2024 high.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>One of Solana\u2019s largest decentralised exchanges, Drift Protocol, has been responding to an active exploit after blockchain investigators traced at least US$200 million (AU$290 million) in suspicious outflows from its vaults, with some estimates from Arkham Intelligence and PeckShield putting the loss as high as US$285 million (AU$413 million).<\/p>\n<p>The protocol halted deposits and withdrawals and warned users to act carefully while it worked with security firms, bridges and exchanges to contain the breach. In a post on X, Drift remarked that the incident was real and not an April Fool\u2019s joke.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">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\u2019ll provide additional updates from this account as\u2026 https:\/\/t.co\/03SRPq4fHj<\/p>\n<p>\u2014 Drift (@DriftProtocol) <a href=\"https:\/\/twitter.com\/DriftProtocol\/status\/2039417136729227425?ref_src=twsrc%5Etfw\">April 1, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p><strong>Read more: $53M Bitcoin Short Raises Eyebrows as Whale Bets on Market Turmoil<\/strong><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-how-the-attack-unfolded\">How the Attack Unfolded<\/h2>\n<p>The attack appears to have started earlier in the day, at about 9:06 a.m. ET, when roughly 41 million JLP tokens worth about US$155 million (AU$225 million) were moved out of Drift Vault and sent to a wallet later identified by blockchain analytics platforms.\u00a0<\/p>\n<p>That wallet had reportedly been funded with 1 SOL the previous week.<\/p>\n<p>Lookonchain and PeckShield detected the outflows around 1:30 p.m. ET, while Helius chief executive Mert Mumtaz warned traders publicly before Drift issued its own statement around 3:00 p.m. ET.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>The stolen assets included USDC, JLP, wrapped Bitcoin, wrapped Ethereum and other tokens. They were moved through the Jupiter aggregator and then bridged from Solana to Ethereum.\u00a0<\/p>\n<p>Circle, which issues USDC, was alerted, and about US$4 million (AU$5.8 million) in USDC has reportedly been frozen on Ethereum.<\/p>\n<p>Early analysis pointed away from a typical smart contract flaw. PeckShield founder Jiang Xuxian said the likely cause was compromised admin keys rather than a contract bug, though Drift had not officially confirmed the attack vector at the time of publication.<\/p>\n<p>If the higher loss estimate is confirmed, the exploit would rank among the largest DeFi breaches to date and the second-largest known Solana-based incident after the 2022 Wormhole bridge hack, which resulted in losses of US$326 million (AU$473 million).<\/p>\n<p>Drift\u2019s governance token fell about 28% on the day to roughly US$0.049 (AU$0.071). That leaves it about 98% below its November 2024 all-time high of US$2.60 (AU$3.77). No timeline had been given for restoring normal platform activity, and no recovered funds had been publicly confirmed.<\/p>\n<p><strong>Related: Bitcoin Stress Spikes as Nearly Half of Supply Falls Into Loss<\/strong><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Hackers,Solana#200M #Hack #Hits #Drift #Protocol #Solana #DEX #Freezes #Activity1775122897<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Drift Protocol confirmed an active attack on April 1, 2026, with at least US$200 million drained from its Solana-based vaults. Security firm PeckShield identified a compromised admin private key as the likely attack vector, with stolen assets including USDC, wrapped Bitcoin, wrapped Ethereum, and JLP. The DRIFT governance token dropped roughly 28% on the day<\/p>\n","protected":false},"author":1,"featured_media":8042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[872,1044,2392,2314,1829,652,26,131,152],"class_list":{"0":"post-8041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-200m","9":"tag-activity","10":"tag-dex","11":"tag-drift","12":"tag-freezes","13":"tag-hack","14":"tag-hits","15":"tag-protocol","16":"tag-solana"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$200M Hack Hits Drift Protocol as Solana DEX Freezes Activity - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=8041\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$200M Hack Hits Drift Protocol as Solana DEX Freezes Activity\" \/>\n<meta property=\"og:description\" content=\"Drift Protocol confirmed an active attack on April 1, 2026, with at least US$200 million drained from its Solana-based vaults. 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