Drift Protocol $280M exploit took ‘months of deliberate preparation’

Drift Protocol said, with “medium-high confidence,” that the recent attack was carried out by the same actors responsible for the $58 million Radiant Capital hack in October 2024.

Drift Protocol, a decentralized cryptocurrency exchange (DEX), says the recent exploit against the platform was a six-month-long, highly coordinated attack.

“The preliminary investigation shows that Drift experienced a structured intelligence operation requiring organizational backing, significant resources, and months of deliberate preparation,” Drift said in an X post on Saturday.

The decentralized exchange was exploited on Wednesday, with external estimates putting losses at around $280 million.

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