Drift announces support from Tether and partners, planning to use approximately $127.5 million and $20 million to help attacked users recover. It will establish income-linked credit, ecosystem grants, and other tools, and create a recovery pool covering about $295 million in outstanding losses, issuing transferable recovery tokens. The protocol restart has delegated audits to Ottersec and Asymmetric, and the settlement layer has shifted from USDC to USDT. The previous attack caused approximately $295 million in damages, with the insurance fund unaffected.

MeNews

2026-05-25 17:43:48

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ME News Report, April 18 (UTC+8), Drift announced on its official website that Drift Protocol has received support from Tether and other partners, with Tether planning to invest $127.5 million and other partners planning to invest $20 million to jointly support user recovery efforts following the attack on April 1. The support plan includes a $100 million revenue-linked credit line, ecosystem grants, and loans to market makers. Drift will establish a dedicated user recovery pool aimed at gradually addressing the $295 million in outstanding user losses as trading revenue grows. Additionally, Drift will issue independent recovery tokens to affected users, representing claims on the recovery pool and being transferable. Currently, Drift is in the process of protocol reboot, having hired Ottersec and Asymmetric for audits, and migrating the settlement layer from USDC to USDT. The previous attack resulted in the theft of assets worth approximately $295 million, with the insurance fund remaining unaffected. (Source: Drift)

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PermissionedFury

· 3h ago

After the protocol restarts, do you still dare to increase your funds?

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GateUser-9335da8b

· 3h ago

Drift can make a comeback, Solana DeFi confidence +1

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NeonMint

· 3h ago

Tether has now become the fire chief, covering all the bases everywhere.

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AirdropCheck-InOfficer

· 4h ago

Does restoring the pool cover result in total loss? It doesn't add up mathematically.

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GateUser-16838403

· 4h ago

The attack details haven't been disclosed yet; waiting for a post-mortem review.

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StargazingUnderTheGlassDome

· 4h ago

Tether steps in to backstop, this move is considered a benchmark in the industry.

View OriginalReply0

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Drift: Supported by Tether and others, plans to establish a $147.5 million recovery fund for user compensation

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