ene

[ene @moraradex]

@0xNIC0 @reflectmoney Summary
① We have provided straws. We will not provide any money.
② We will not compensate users for any losses related to USDC+.
③ It’s all Drift’s fault. Our company, which provided USDC+, is not at fault.

[ene @moraradex]

@reflectmoney Summary
① We have provided straws. We will not provide any money.
② We will not compensate users for any losses related to USDC+.
③ It’s all Drift’s fault. We are not at fault.

[ene @moraradex]

@0xNIC0 most important thing is to ensure that users who have suffered losses due to your company’s operational failures can be fully reimbursed with USDC+ collateral as soon as possible.

We hope that “third-party integration” is not merely a “means of accessing Drift's debt tokens.”

[nxxn @sol_nxxn]

It’s been 2 months since I lost $10k in the $280M Drift hack, like many others

I understand the team wants to make it right, but refund tied to the relaunch success doesn’t inspire confidence

Full repayment would require years of strong revenue post-relaunch, which I don’t believe will happen

Also why lock untouched funds in the recovery pool without permission?

Given this, I doubt the promised Q2 relaunch will actually happen, completely unclear what and when anything will occur

[ene @moraradex]

@0xNIC0 @SuperteamUK Summary: Information regarding compensation for USDC+ users, which is the responsibility of reflect. This does not exist.

[ene @moraradex]

@0xNIC0 Surely this isn’t some announcement that treats USDC+ users like fools, like, “We’ve added a UI for accessing Drift’s debt token redemption feature!”?

Let’s take a closer look at what exactly “a major step forward for USDC+ beta users” means.

[ene @moraradex]

@0xNIC0 After Drift was hacked, it wasn’t the users who were in the ejection seats—it was you guys.
The users on board the plane all crashed along with Drift.
And you guys, who were in the seats, came out unscathed.

Does this mean we’ll get to see lots more of these “many great things”?

[ene @moraradex]

@reflectmoney It’s like a broken tape recorder.
You kept repeating the same thing—“reflect is safe”—right up until March 2026.
As a result, users who used USDC+ lost all their assets.
Overnight.

Your toy promotions aren’t worth listening to.
Don’t forget about USDC+.
Refund the $1.9 million.

[ene @moraradex]

@0xNIC0 @reflectmoney @BlockworksAdv @solana Don’t forget about USDC+.
Don’t forget about USDC+, which lost $1.9 million in user funds due to your operational failure.

When your “new toy” breaks again, are you going to shift all the losses and responsibility onto the users once more?
Give us our money back!

[ene @moraradex]

@reflectmoney @BlockworksAdv @solana Give me my money back.
Don’t forget about USDC+.

The USDC+ project you launched resulted in the loss of all $1.9 million due to a hack caused by your operational failure.

Yet you bore no responsibility or risk for this loss.
You shifted all the risk onto the users.

[ene @moraradex]

@reflectmoney So, before we even got our assets back, you went and made another new toy.

And if this new system causes more damage, who’s going to take the blame?
That’s right—the users.

The developers won’t take any responsibility.
They don’t take any risks; they just run away.

[ene @moraradex]

@reflectmoney Are you guys planning to shift the blame for the protocol onto the users again?

Give us our money back!

[ene @moraradex]

@reflectmoney @SolanaEvents @consensus2026 Does that mean if I go there, I’ll get my money back!?
Let me redeem my USDC+!

[ene @moraradex]

@reflectmoney You shifted all the responsibility onto Drift.
You shifted all the risk onto the users.
You failed to fulfill any of your own responsibilities and merely created a straw called the “Drift claim pool access portal.”

[ene @moraradex]

@reflectmoney We have no interest in reading flowery poetry.
What we want is a concrete plan for you to repay the funds as soon as possible.

[Reflect @reflectmoney]

We've been quiet for the last few weeks. Sometimes events outside of your control have a way of sharpening your thinking on where a market is heading and what your role in it should be. That clarity deserved our full attention, not a half-formed thread.

The more time our team spends in this space, the more convicted we become that the biggest bottleneck to stablecoin adoption isn't demand. Everyone wants stablecoins. Every company wants to issue one, every protocol wants to offer yield, every fintech wants to integrate them. The bottleneck is that the infrastructure to do all of that properly doesn't exist yet.

What we keep seeing is the same pattern. Teams with real ambition spending months rebuilding the same plumbing: venue risk, monitoring, compliance, issuance. All proprietary, all closed, all built from scratch every single time. Risk frameworks that make sense internally but are completely opaque to anyone outside the team that designed them. And now, regulatory clarity that draws a hard line between custodial and non-custodial, meaning a significant number of products and white-label services need to rethink how they're structured. Not because anyone had bad intentions, but because the tooling to do it on the right side of that line hasn't been available.

This is the problem our team has been focused on solving. Reflect is becoming the agnostic infrastructure layer for stablecoins. One integration that gives teams everything they need to move fast and stay clear: launch a stablecoin backed by any major issuer's asset without years of licensing and bureaucracy, tranche underlying risk into senior and junior positions so first-loss protection takes seconds instead of months, and access the richest stablecoin data in the industry so every position and every venue is visible and verifiable. All non-custodial. All on the right side of the line.

We're not building this to compete with teams issuing stablecoins or running yield strategies. We're building it because those teams deserve infrastructure that lets them focus on what they're actually good at, without inheriting risk they can't see or regulatory exposure they didn't sign up for.

The next few weeks will show what this looks like in practice. We're ready to let the work speak for itself.

[ene @moraradex]

And above all, none of you are ultimately taking any losses.
You’ve shifted all the risks of your protocols onto the users.

Drift and Reflect are no different.
You spared yourselves from losses at the expense of the users.

[Reflect @reflectmoney]

Drift published their recovery plan today, and we wanted to move quickly to give USDC+ beta holders clarity on what it means from the Reflect side.

If you held USDC+ at the time of the April 1 exploit, the most important thing to understand is that your path to claiming looks different from a direct Drift depositor.

USDC+ holders don't have individual Drift accounts in their snapshot. Reflect's vaults were the depositing addresses, which means when Drift issues recovery tokens, they are allocated to Reflect first and need to flow downstream to the people who actually held the position.

We anticipated this early, and we've had a claims portal designed and ready to bridge that gap, so that USDC+ holders can redeem for the Drift recovery token through Reflect without ever needing to interact with Drift directly. When their claim window opens, targeted for Q2 2026, we plan to be live as early as possible so there are no unnecessary delays on our end.

USDC+ is how you access your claim, with the portal mapping your holdings to a proportional share of recovery tokens based on the snapshot taken at protocol pause on April 1.

We are in regular contact with the Drift team and actively engaging on the governance decisions ahead that affect downstream protocols. Since April 1, this team has been focused on one thing: making sure that when the recovery path opens, every affected USDC+ beta user has a clear, fast, and informed route to their claim.

We believe that ecosystem collaboration matters most in moments like this, and our priority is achieving the strongest possible outcome for the people affected. That means more than just passing through a recovery token. We expect to share more on what that looks like in the coming weeks, and we want to thank everyone who has been patient with us while we've worked through this. It has not gone unnoticed.

The full details of how Drift's recovery token works, how the recovery pool is funded over time, and what the trade-offs around early versus later redemption look like are all covered in their post. We'd encourage reading it carefully. Link below.

[Reflect @reflectmoney]

Drift published their recovery plan today, and we wanted to move quickly to give USDC+ beta holders clarity on what it means from the Reflect side.

If you held USDC+ at the time of the April 1 exploit, the most important thing to understand is that your path to claiming looks different from a direct Drift depositor.

USDC+ holders don't have individual Drift accounts in their snapshot. Reflect's vaults were the depositing addresses, which means when Drift issues recovery tokens, they are allocated to Reflect first and need to flow downstream to the people who actually held the position.

We anticipated this early, and we've had a claims portal designed and ready to bridge that gap, so that USDC+ holders can redeem for the Drift recovery token through Reflect without ever needing to interact with Drift directly. When their claim window opens, targeted for Q2 2026, we plan to be live as early as possible so there are no unnecessary delays on our end.

USDC+ is how you access your claim, with the portal mapping your holdings to a proportional share of recovery tokens based on the snapshot taken at protocol pause on April 1.

We are in regular contact with the Drift team and actively engaging on the governance decisions ahead that affect downstream protocols. Since April 1, this team has been focused on one thing: making sure that when the recovery path opens, every affected USDC+ beta user has a clear, fast, and informed route to their claim.

We believe that ecosystem collaboration matters most in moments like this, and our priority is achieving the strongest possible outcome for the people affected. That means more than just passing through a recovery token. We expect to share more on what that looks like in the coming weeks, and we want to thank everyone who has been patient with us while we've worked through this. It has not gone unnoticed.

The full details of how Drift's recovery token works, how the recovery pool is funded over time, and what the trade-offs around early versus later redemption look like are all covered in their post. We'd encourage reading it carefully. Link below.

[ene @moraradex]

@reflectmoney What happens to the people who had assets in DeFi at that time?
Are you saying we shouldn’t help the people who woke up to find that the USDC they had staked as LP tokens had turned into non-redeemable USDC+?

[ene @moraradex]

@DriftProtocol @0xNIC0
Drift has issued an announcement.
In other words, as the CEO of reflect, you need to take some kind of action—not just issue an announcement.

Return our funds.