Drift Protocol hit by $295M hack, plans recovery tokens and relaunch by Q2 2026

Drift Protocol, a Solana-based derivatives platform, suffered a $295 million cyberattack on April 1, 2026, attributed to North Korean hackers. The platform will issue recovery tokens worth $1 each to compensate affected users, backed by an initial $3.8 million fund and up to $147.5 million pledged by Tether and partners. Full reimbursement could take up to eight years without partner support, but early redemption options and token transferability offer flexibility. Drift aims to relaunch by July 2026 with enhanced security and a streamlined focus on perpetual futures trading to prevent future breaches.