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Solana-Based DeFi Project Drift Hit by $285 Million Exploit

Bloomberg • April 1, 2026

Drift, a decentralized finance project built on the Solana blockchain, has been hit by a major exploit that drained nearly $300 million in digital assets from the protocol, according to cybersecurity and data analytics firms.

PeckShield Inc. was among the firms that flagged the incident on Wednesday, saying that $285 million in crypto was stolen. Some of the stolen cryptocurrencies were converted into USDC, a dollar-pegged stablecoin issued by Circle Internet Group Inc., based on the blockchain data, the firms said .

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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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Solana-Based DeFi Project Drift Hit by $285 Million Exploit

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