Drift Protocol announced a user recovery plan for the approximately $295 million security breach that occurred on April 1st, an attack attributed to a North Korean-backed hacking group. Under the plan, Drift will issue receipt tokens representing verified user losses, with each token corresponding to $1 of the loss. Holders can redeem their tokens gradually based on the size of the recovery pool. The initial recovery pool currently has approximately $3.8 million, with subsequent funding sources including up to $127.5 million in exchange revenue, up to $20 million in Tether backing funds, and up to $20 million from partners, aiming to cover the total loss of approximately $295.4 million. Drift has frozen approximately $3.36 million in USDC and established a public bounty program for recovering 10% of the assets, expecting to relist on exchanges in the second quarter under a "security-first" model. (CoinDesk)