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Crypto platform Drift suspends services after millions stolen in security incident

Therecord.Media • April 1, 2026

Security experts believe hundreds of millions of dollars worth of cryptocurrency were stolen from decentralized finance platform Drift on Wednesday after the site confirmed it was experiencing a cyberattack.

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This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

Drift Protocol Suffers Major $270M Exploit Amid Ongoing Investigation On April 1, 2026, Drift Protocol, a decentralized exchange on the Solana blockchain, confirmed it was under an active attack, resulting in an estimated loss of $270 million to $285 million. The exploit involved suspicious transfers to a wallet identified as HkGz4K, with the protocol suspending all deposits and withdrawals immediately. Initial reports indicated that the attack may have exploited compromised administrative access or manipulated token prices. Analysts noted that the incident could be one of the largest DeFi hacks of the year, with the DRIFT token plummeting approximately 35% in value. The protocol's total value locked (TVL) significantly decreased from around $311 million to approximately $23 million following the incident. As investigations continue, there are concerns about the security of decentralized exchanges and potential regulatory repercussions. No confirmed recovery of funds has been reported as of April 2, 2026. 108 sources 67

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Drift