Crypto

The Drift Protocol Hack: What Happened to the $295 Million, and Why Victims Are Only Getting Pennies Back

Loser Buddy

01

Drift Protocol lost about 295 million dollars in one of 2026's biggest DeFi hacks.

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Attackers drained the Solana lending protocol in under 12 minutes on April 1, 2026.

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They used a fake token, a rigged price oracle, and stolen multisig signatures.

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Security firms link the attack to North Korea's state hacking apparatus.

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Drift opened recovery claims on October 1, 2026, paying about 1 cent per dollar lost.

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On October 20, 2026, the hackers moved another 61 to 63 million dollars into Tornado Cash.

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Six months on, most of the stolen money is still unrecovered and still moving.

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Drift is relaunching as Velocity DEX with backing from Tether to fund future payouts.

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