Drift loses up to $270M as attackers move funds across chains.
TVL drops from $534M to $255M, triggering a sharp liquidity exit for Drift Protocol.
DRIFT token plunges ~30% as protocol halts and probes exploit.
A major exploit has hit Solana-based DeFi platform Drift Protocol, wiping out a large share of its liquidity and sending shockwaves across the ecosystem. Early estimates suggest that between $220 million and $270 million in assets were moved out of the protocol in a coordinated attack, which is one of the most significant on-chain breaches this year.
On-chain data indicates that the stolen funds were transferred to a wallet identified as “HkGz4K.” From there, the attacker began dispersing and converting assets across multiple platforms. A substantial portion was bridged to Ethereum, where it was used to acquire 19,913 ETH, valued at nearlly $42.6 million. Additional funds were routed through Hyperliquid, where stolen SOL was swapped into ETH, while some cryp
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