cindy

cofounder @DriftProtocol

[cindy @cindyleowtt]

Big conclusion from Accelerate:

All assets - equities, bonds, money markets, cryptoassets - will eventually be traded and settled in their most capital-efficient form.

And that's going to be onchain, on @solana.

[Squid @airtightfish]

https://t.co/ilbIgk7Ip2

[cindy @cindyleowtt]

Today marks a new chapter for @DriftProtocol x @tether, built on resilience and trust.

We will be coming back stronger than ever, and giving our 110% every time.

[Tether @tether]

Tether Leads Support to the $150M Drift Recovery Plan, Stabilizes Relaunch as Drift Plans to Expand USD₮ Usage on Solana

Read more:

https://t.co/7GtC2zOxFe

[cindy @cindyleowtt]

@tracybbd 🫡

[Paolo Ardoino 🤖 @paoloardoino]

❤️🙏

[cindy @cindyleowtt]

@paoloardoino Tether x Drift will be a big one 🫡

[Tether @tether]

Tether Leads Support to the $150M Drift Recovery Plan, Stabilizes Relaunch as Drift Plans to Expand USD₮ Usage on Solana

Read more:

https://t.co/7GtC2zOxFe

[cindy @cindyleowtt]

After April 1, we put our heads down and committed to making this right for our users and partners.

Today, we're announcing a collaboration with @tether and other partners, through which they are proposed to contribute up to $147.5 million combined to support user recovery and facilitate the Drift Protocol relaunch.

The collaboration is structured around a clear, revenue-driven recovery mechanism designed to prioritize users from day one through a revenue-linked credit facility, an ecosystem grant, and loans to market-makers. During the initial phase of the collaboration, a substantial portion of exchange revenue, together with committed support capital, is intended to fund a dedicated user recovery pool.

The willingness of @paoloardoino, Tether and our partners to commit real capital to Drift’s recovery says something about the strength of what we've built and what we're building next, as well as our shared vision to scale the Solana DeFi ecosystem together.

We are committed to continuing to provide transparency rooted in accountability as we build Drift back stronger in the coming months, and have outlined initial steps towards relaunch and user recovery in this Incident Recovery Update: https://t.co/3TPKzLwUO7

Full details from @DriftProtocol: https://t.co/GbdPeVLDNe

[Drift @DriftProtocol]

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery.

These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool.

Learn more 👇

[Drift @DriftProtocol]

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery.

These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool.

Learn more 👇

[Drift @DriftProtocol]

Drift is actively working with @asymmetric_re, and @osec_io to consolidate a coordinated recovery plan.

Our immediate focus is to stabilize the situation and provide protocol-level assurance to all affected users and partners.

Drift will also be participating in the STRIDE program by @SolanaFndn as part of strengthening our long-term security posture.

We’re aligning closely with leading ecosystem security teams to ensure a structured and thoughtful path forward.

Further updates will be shared soon.

[Sailor @solana_sailor]

This wasn’t just a hack
It may have been a 6-month infiltration

Drift just shared its preliminary reconstruction of how the April 1 exploit was staged 👇

• Attackers posed as a legit quant trading firm
• Built trust with contributors across multiple conferences
• Spent months discussing strategies and integrations
• Deposited $1M+ to establish credibility
• Possible vectors included a malicious repo and a TestFlight app
• One possible repo-based vector involved a VSCode/Cursor vuln
• Chats and malware were scrubbed right after the exploit

Attribution points to a state-level operation (DPRK-linked) with high resources and coordination

This is no longer “smart contract risk”
It’s human + operational security

How do you defend against something like this? 🤔

[Sona (∇, ∇) @SheTalksCrypto]

TLDR on @DriftProtocol hack👇🏻

> 6-month social engineering op
> fake quant firm met contributors at conferences
> built trust + telegram group over months
> onboarded $1M+ vault with real capital
> shared "tools" & repos during integration talks
> one dev cloned malicious repo → opened in VSCode (silent exploit)
> another installed fake TestFlight "wallet" app
> malware hit signer devices → compromised multisig approvals
> april 1: drained ~$285M in minutes

SICKKKKK

[Austin Federa | 🇺🇸 @Austin_Federa]

If this preliminary report is correct, this is an incredibly sophisticated attack. Most protocols are not thinking about security in this way.

[cindy @cindyleowtt]

@redacted_noah @SlodyMachete @DriftProtocol thank you, truly appreciate the kindness at this time.

[toly 🇺🇸 @toly]

Terrifying

[Tay 💖 @tayvano_]

@cindyleowtt @keoneHD I’ll add:

Just like the Radiant case….

As well as Bybit and WazirX….

And the $20m Venus whale….

They have gotten very good at tricking people into signing what they want without them ever noticing.

[cindy @cindyleowtt]

@Chris_Insights @tayvano_ @keoneHD This is not a team wallet

[cindy @cindyleowtt]

@redacted_noah @SlodyMachete @DriftProtocol Security firms are diagnosing exactly how this was executed but this is a good hypothesis

[_gabrielShapir0 @lex_node]

absolute madness

only antisocial teams who think everyone and everything is a scam are safe

[cindy @cindyleowtt]

@redacted_noah @SlodyMachete @DriftProtocol These were NOT hot wallets. Signing was all cold wallets.

[cindy @cindyleowtt]

@keoneHD @tayvano_ Cold devices were used