Drift Protocol unveils $295M recovery plan after North Korea-linked hack

Drift Protocol announced a recovery plan following a $295 million exploit on April 1, attributed to a North Korean state-backed hacking group. The plan involves issuing recovery tokens pegged to verified user losses and building a revenue-backed pool starting at $3.8 million, potentially growing to $151 million with support from Tether and partners. Drift has frozen some stolen funds and launched a 10% bounty for recovered assets, aiming to relaunch as a security-focused exchange with enhanced controls in Q2. This effort aligns with broader DeFi recovery initiatives after major North Korea-linked hacks.