Drift Protocol unveils recovery plan after $295M DPRK-linked exploit, proposing tokenized user claims, revenue-backed pool, and security overhaul to restore funds

Drift Protocol, the Solana-based perpetuals exchange, said it would recover from its April 1 exploit with a claim-token system that gives affected users a transferable token representing $1 of verified loss, backed by a recovery pool funded from protocol revenue, Tether support, and partner capital. The plan was published after Drift said the roughly $295 million theft had been linked by Mandiant to a DPRK-affiliated threat actor, with most of the stolen ETH still traceable across attacker wallets even though the funds had not yet been recovered. The proposal matters because it turns one of the largest recent DeFi thefts into a long-duration reimbursement process rather than an immediate payout, with redemptions tied to the size of the pool and later burn mechanics for redeemed or unclaimed claims. Drift also said it will relaunch in Q2 2026 with a narrower, security-hardened design: a fresh program deployment, rotated keys, multisig and timelock controls, mandatory audits, and a shift toward a USDT-settled perpetuals-only venue after removing higher-risk product features.

✨ AI-generated background, compiled from web sources — not editorial content.

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