Drift Announces Recovery Efforts After $200 Million Hack

Drift, a decentralized perpetual contract trading platform, has released an update on its recovery efforts following a significant security breach. According to Foresight News, the platform has appointed Noah Prince, former protocol engineering lead at Helium, as the head of protocol to oversee code enhancement and security upgrades. Additionally, former team members from Gauntlet will join to provide expertise in risk management and treasury support. The revamped platform plans to establish a dedicated recovery pool funded by its revenue to compensate users for their losses. An independent forensic investigation by security and threat intelligence consultancy Mandiant has confirmed that the attack was carried out by the North Korean-linked hacker group UNC6862, which has been associated with several similar incidents. Earlier reports from Foresight News indicated that Drift suffered a hack in April this year, resulting in losses of at least $200 million, with some analyses suggesting the figure could be closer to $270 million. The attack affected multiple Drift vaults, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking. The compromised assets primarily consisted of approximately 41.7 million JLP tokens, valued at around $155 million, along with SOL, USDC, cbBTC, and wBTC.