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Drift Unveils Post-Hack Relaunch Roadmap: USDT Perpetual Exchange and Recovery Fund

Security Incidents Project Progress Exchange Risk

2026-06-04 05:22:10

DRIFT-9.54%

SOL-7.23%

HNT1.72%

According to Drift's official announcement on June 3, the Solana-based decentralized derivatives exchange unveiled its relaunch roadmap following the April 12 hack that resulted in $209.58 million in anomalous fund transfers. Drift plans to relaunch a security-hardened USDT-based perpetual futures exchange, with platform revenues directed toward establishing a Recovery Pool to cover unrecovered losses from the hack. The platform also appointed Noah Prince, formerly Head of Protocol Engineering at Helium, as Head of Protocol to oversee a complete protocol rebuild prioritizing security. Additional risk management enhancements include liquidation engine reviews, funding rate adjustments, and enhanced risk monitoring systems. Details on user recovery methods and compensation timelines will be disclosed later.

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.

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