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Reflect Launches Recovery Plan for USDC+ Holders Affected by Drift Hacking Incident

AirdropBlackHole

2026-07-02 16:12:11

On July 2, the stablecoin protocol Reflect, supported by a16z, announced the launch of an independent voluntary recovery plan for USDC+ holders affected by the Drift (now Velocity) hacking incident in April. Starting today, a 180-day window is open for holders to voluntarily sell their positions to Palindrome Engineering at a price of 0.20 USDC + 80 Reflect Credits (RC) per unit, with complete on-chain settlement. The plan is funded in advance by Palindrome and is entirely independent of the Drift recovery process. Participants will waive their claims against Drift in exchange for immediate certainty of liquidity; those who do not participate can still support Drift's DFX recovery channel.

DRIFT-1.84%

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