Crypto platform Drift suspends services after millions stolen in security incident

Security experts say hundreds of millions of dollars in cryptocurrency were stolen from Drift after the platform confirmed an active cyberattack and suspended deposits and withdrawals. Firms estimated losses between about $130 million and over $285 million as the attacker repeatedly converted funds while security teams and exchanges work to contain the breach. #DriftProtocol #Solana

Keypoints

Drift Protocol reported an active attack and suspended deposits and withdrawals.
Blockchain firms estimated losses between roughly $130 million and $285 million.
The attacker is repeatedly converting stolen funds into other coins to obfuscate traces.
Drift is built on the Solana blockchain and had published code audits in 2023 and 2024.
Security firms, bridges, and exchanges are coordinating to contain the incident and investigate the exploit.