Drift Protocol Insurance Fund Unaffected by Attack, Users Can Withdraw Shares After Recovery

DRIFT0.63%

According to ChainCatcher, Drift Protocol stated on X that after protocol recovery, insurance fund stakers will be able to withdraw their corresponding shares. The insurance fund, designed to maintain protocol solvency during liquidations or insolvencies, was not impacted by the vulnerability as the protocol was paused before losses were realized through normal liquidation or bankruptcy procedures.

Drift Protocol added that protocol-owned insurance fund assets will support system restart and user recovery. The protocol plans to disclose relevant on-chain addresses to enable the community to track fund usage and future deployment.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments