{"id":8202,"date":"2026-04-02T10:39:54","date_gmt":"2026-04-02T10:39:54","guid":{"rendered":"https:\/\/dailystreetchronicle.com\/index.php\/2026\/04\/02\/solanas-drift-protocol-suffers-285m-exploit-drift-token-crashes\/"},"modified":"2026-04-02T10:39:54","modified_gmt":"2026-04-02T10:39:54","slug":"solanas-drift-protocol-suffers-285m-exploit-drift-token-crashes","status":"publish","type":"post","link":"https:\/\/dailystreetchronicle.com\/index.php\/2026\/04\/02\/solanas-drift-protocol-suffers-285m-exploit-drift-token-crashes\/","title":{"rendered":"Solana\u2019s Drift Protocol Suffers $285M Exploit, DRIFT Token Crashes"},"content":{"rendered":"

The post Solana\u2019s Drift Protocol Suffers $285M Exploit, DRIFT Token Crashes<\/a> appeared first on Coinpedia Fintech News<\/a><\/p>\n

One of Solana’s most trusted DeFi platforms just became the victim of a massive heist. Drift Protocol has suffered a major exploit, with losses exceeding $285 million after an attacker gained control of key administrative permissions. <\/p>\n

Following the Drift Protocol exploit, the Drift token price crashed by 42%, now trading around $0.041. <\/p>\n

Drift Protocol Exploit Drained Over $285M <\/h2>\n

According to blockchain security firm Slowmist<\/a>, the exploit began around 4 PM UTC, with the first major transfer being $155 million worth of JLP tokens drained from a Drift vault.<\/p>\n

Within a matter of hours, the damage had grown far beyond what anyone initially expected. <\/p>\n

The total amount stolen surpassed $285 million, more than 50% of Drift Protocol’s total value locked.<\/p>\n

Attacker Bridges $270M to Ethereum<\/h3>\n

In a coordinated move, the attacker quickly then bridged roughly 129,000 ETH, valued at about $270.9 million, from Solana to Ethereum using CCTP TokenMessengerMinterV2.<\/p>\n

To avoid detection, the stolen funds were split across multiple wallets, with transfers including 55.4K ETH, 25.7K ETH, 24.9K ETH, and 23.1K ETH, indicating a careful effort to reduce tracking risk.<\/p>\n

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Before bridging, the exploiter swapped the stolen assets into USDC via Jupiter, then converted them into ETH. This quick conversion helped the exploiter consolidate funds before moving them across chains.<\/p>\n

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