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Users affected by the $285 million Drift Protocol exploit could theoretically wait between 737.5 years and 983.3 years to be fully repaid if the protocol continues generating revenue at its current post-hack pace, according to a new analysis. What Happened The research, published by Cryptonary on Tu

The decentralized finance sector lost $13.21 billion in total value locked over two days after the KelpDAO breach, dwarfing the quieter slide in Bitcoin (BTC) markets. KelpDAO Contagion Hits Aave The drop brought aggregate DeFi TVL down from $99.49 billion to $86.28 billion in 48 hours. Aave alone a

Tether (USDT) has gained ground on Solana (SOL) after bankrolling a $150 million relaunch of Drift Protocol, a move analysts say reshuffles the stablecoin pecking order following April's $285 million exploit. Drift Rescue Package Drift said Thursday it secured nearly $150 million from Tether and oth

Drift, the Solana-based perpetuals exchange, said Thursday it lined up nearly $150 million with Tether and other partners to fund a relaunch centered on USDT (USDT) and reimbursement for users hit by April's $285 million exploit. Drift Tether Rescue Package The package includes a $100 million revenu

The U.S. Treasury Department is moving to provide cybersecurity intelligence directly to cryptocurrency firms, aiming to strengthen defenses across the digital asset sector, days after North Korean hackers allegedly drained an estimated $285 million from Drift Protocol, after manipulating oracle pri