In brief
- Solana-based Drift Protocol was hacked on April 1, with $295 million in user funds drained by attackers linked to North Korea.
- Drift Protocol will issue recovery tokens to affected wallets, with each token representing $1 of verified loss.
- Tether committed up to $127.5 million in recovery funds, with strategic partners pledging an additional $20 million.
A month after North Korean-affiliated hackers drained $295 million in user funds from decentralized crypto exchange Drift Protocol, the Solana-based platform has released a detailed recovery plan outlining how it intends to compensate affected users and relaunch as a rebuilt, security-focused exchange.
The April 1 attack was attributed to a North Korea state-affiliated threat…
