Drift Protocol Secures $150 Million Funding Following Major Exploit
Drift Protocol has secured $150 million in funding from Tether and other partners to recover from a major exploit that drained between $270 million and $285 million from its vaults. The funding includes a $100 million revenue-linked credit facility and will be used to support a user recovery pool and a relaunch of the protocol. The incident significantly reduced Drift's total value locked (TVL) from $550 million to $230 million.
Tickers: $SOL
Topics: DeFi exploit funding_recovery hacking security Solana Tether