#DriftProtocolHacked :


#DriftProtocolHacked 🚨
On April 1, 2026, Drift Protocol, one of Solana’s largest DeFi platforms, saw $280M+ moved in just 12 minutes due to a complex governance exploit.

What happened:
Admin-level access was exploited through pre-signed transactions and multisig governance weaknesses.

Multiple vaults were drained, including USDC, wBTC, SOL, and JLP tokens.

Funds were moved across chains using cross-chain protocols, showing the importance of multi-chain monitoring.

Market Impact:
DRIFT token crashed 40%+ instantly
SOL price briefly dropped to $70–$80
TVL fell 50%+

Liquidity dried up and trading volume spiked due to panic selling

Lessons for Users:
Monitor approvals and revoke unused ones
Diversify assets across protocols
Be aware of governance risks, not just code bugs

Track cross-chain fund movement and freeze mechanisms

Takeaway: Governance security is as important as smart contract security. Even large protocols can lose millions if admin processes aren’t properly protected.
DRIFT-3,81%
SOL0,68%
WBTC0,38%
post-image
post-image
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 25
  • 1
  • Share
Comment
Add a comment
Add a comment
CryptoEyevip
· 3m ago
To The Moon 🌕
Reply0
ShainingMoonvip
· 24m ago
To The Moon 🌕
Reply0
ShainingMoonvip
· 24m ago
LFG 🔥
Reply0
ShainingMoonvip
· 24m ago
To The Moon 🌕
Reply0
ShainingMoonvip
· 24m ago
2026 GOGOGO 👊
Reply0
Vortex_Kingvip
· 2h ago
2026 GOGOGO 👊
Reply0
Vortex_Kingvip
· 2h ago
LFG 🔥
Reply0
Repanzalvip
· 4h ago
Ape In 🚀
Reply0
Repanzalvip
· 4h ago
LFG 🔥
Reply0
Repanzalvip
· 4h ago
To The Moon 🌕
Reply0
View More
  • Pin