Solana Dex Drift Protocol Reportedly Hacked, Token Drops Nearly 20%
- Solana decentralized exchange Drift Protocol has been reportedly hacked.
- While there hasn’t been an official confirmation, it’s DRIFT token has crashed nearly 20% after the rumors.
- The decentralized exchange, built on Solana for perpetual futures trading, integrates Circle’s USDC infrastructure for collateral and transfers.
- Mert Mumtaz, co-founder and CEO of Helius, raised the alarm in a post on X.
What Happened
Solana decentralized exchange Drift Protocol has been reportedly hacked. While there hasn’t been an official confirmation, it’s DRIFT token has crashed nearly 20% after the rumors.
He said there was a “high likelihood of a potentially large exploit” and urged Circle to respond.
The post Solana DEX Drift Protocol Reportedly Hacked, Token Drops Nearly 20% appeared first on BeInCrypto.
Market Context
The decentralized exchange, built on Solana for perpetual futures trading, integrates Circle’s USDC infrastructure for collateral and transfers.
That uncertainty quickly spread across the market and trading community.As a result, the DRIFT token saw an immediate sell-off. Data shows the token dropped over 17% within an hour, falling to around $0.058.
Why It Matters
Mert Mumtaz, co-founder and CEO of Helius, raised the alarm in a post on X.
Initially crypto community took at as a April’s Fool joke, but Mert repeatedly expressed the urgency of the matter.
Details
This is a developing story.