Drift Protocol Pauses Transfers After $2M Exploit
▼ Summary
– Drift, a decentralized finance company, has suspended withdrawals and deposits due to a confirmed security incident.
– Security firms estimate the hack resulted in losses between approximately $136 million and $285 million.
– If confirmed, this theft would be the largest crypto hack of the year according to a tracking site.
– The identity of the attackers is currently unknown, and Drift did not immediately provide comment.
– The article notes that North Korea was the leading perpetrator of crypto thefts last year, stealing billions to fund its programs.
A major decentralized finance platform has halted all transfers following a multi-million dollar security breach. Drift Protocol confirmed it is actively containing an attack that has led to significant losses, prompting the immediate suspension of both withdrawals and deposits. Initial estimates from blockchain analysts vary widely, highlighting the ongoing investigation into the full scope of the incident.
Blockchain security firm CertiK has publicly suggested that hackers may have extracted approximately $136 million. In a contrasting assessment, the analytics platform Arkham Intelligence estimates the figure could be as high as $285 million. If the higher estimate is verified, this breach would become the largest crypto theft of the year, according to data tracked by the Rekt leaderboard.
The identity of the attackers remains unknown, and Drift has not yet provided further commentary. This incident occurs against a backdrop of persistent threats from state-sponsored actors. Security analysts note that North Korean hackers were responsible for the majority of cryptocurrency thefts last year, seizing an estimated $2 billion. These funds are widely believed to support the regime’s weapons programs and circumvent stringent international financial sanctions.
(Source: TechCrunch)
