What caused the Drift crypto exchange hack?

Hackers compromised Drift's Security Council via multisig signer breaches—likely social engineering—and exploited a new borrow market against CVT token.

How much money was stolen in the Drift hack?

Blockchain analysts estimate $280 million, about half of Drift's total deposits, potentially one of crypto's largest thefts.

Will Drift crypto exchange recover and reopen?

Unclear—protocol paused indefinitely as they coordinate with security firms; recovery depends on tracing funds and rebuilding trust.

💰 Lending & Credit

Drift's $280M Solana Hack Freezes Largest Perps Exchange as Attack Rages On

Solana was riding high as crypto's speed demon. Then Drift, its biggest perps platform, got hammered for $280 million in a sophisticated hack that's still unfolding.

Fintech Pulse Apr 03, 2026 4 min read 113 views

Drift Protocol website banner announcing pause due to cyberattack on Solana blockchain

⚡ Key Takeaways

Drift lost $280M in a sophisticated admin takeover on Solana, freezing the largest perps exchange. 𝕏
Attack involved multi-week prep, multisig hacks, and a vulnerable CVT borrow market. 𝕏
Exposes Solana DeFi's security risks; expect TVL drop and trader exodus. 𝕏

Written by

Priya Sundaram

Hardware and infrastructure reporter. Tracks GPU wars, chip design, and the compute economy.

#Drift hack #Solana exploit #crypto exchange attack #perpetual futures

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Originally reported by PYMNTS

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Priya Sundaram

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