Drift Confirms Security Incident and Halts Platform Activity
Decentralized finance company Drift said it has suspended withdrawals and deposits after confirming a security incident.
In a post on X, the crypto platform said it was “experiencing an active attack” and that it was working to “contain the incident.”
Estimated Drift Hack Losses Range From $136 Million to $285 Million
Security researchers point to major potential losses
Security researchers and public blockchain data suggest the losses could be substantial. Blockchain security firm CertiK said on X that hackers may have stolen around $136 million.
Crypto analytics firm Arkham estimated the figure at around $285 million stolen.
Public blockchain data adds to the concern
The estimates shared by CertiK and Arkham point to a wide loss range, but both suggest the incident could involve hundreds of millions of dollars in stolen cryptocurrency.
Drift Hack Could Become the Largest Crypto Theft of the Year
If the reported losses are confirmed, the Drift incident would be the biggest crypto theft of the year, according to the Rekt leaderboard, a site that tracks crypto thefts by size.
That possibility puts the incident among the most significant crypto security events of the year so far.
Who Is Behind the Drift Attack Remains Unclear
It is not clear who carried out the attack.
A spokesperson for Drift did not immediately respond to a request for comment.
Crypto Theft Continues to Raise Broader Security Concerns
Security firms say North Korea was behind the most crypto thefts last year, taking at least $2 billion in stolen cryptocurrency. Those funds are believed to be used by the regime to finance its nuclear weapons program and evade international sanctions that limit its access to the global financial system.