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

2026-05-26 13:09:03

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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 approximately $295 million worth of assets being stolen, with the insurance fund remaining unaffected. (Source: Drift)

DRIFT22.7%

USDC0.02%

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NftClosetGhost

· 6m ago

Tether's move this time is indeed steady, and USDT settlement is also more stable.

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Stop-LossLineForTheEveningGlow

· 2h ago

Transferable recovery tokens = disguised debt securitization?

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VolcanicMonolith

· 2h ago

It's a good thing that the insurance fund hasn't moved; it indicates that the risk control layer still has a trump card.

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StakingSparrow

· 2h ago

This wave of crisis management by Drift is textbook-level; other protocols should learn from it.

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ZenOfZK

· 2h ago

Hopefully, the victims can truly get their money back, and it doesn't turn into just an air compensation.

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GateUser-382715ed

· 2h ago

The protocol restart speed is faster than expected; the team's execution capability is good.

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AirdropMileCounter

· 2h ago

Asymmetric Audit Drift, this combination is quite interesting

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SheepOnTheFarSideOfJupiter

· 2h ago

Is ecological grant funding given to developers or to users? I don't understand.

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MidnightReconciler

· 2h ago

Switching from USDC to USDT, the stablecoin landscape is about to shift again

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VelvetValidator

· 2h ago

127.5 million + 20 million—after calculating, it roughly covers more than 40% of the losses, and the rest will be paid back gradually via income linkage?

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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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