Ranger Finance Announces Wind-Down on May 15, Citing Funding Pressure and Drift Attack

According to a post by Ranger Finance co-founder cobra on X, Solana DeFi project Ranger Finance announced it is winding down on May 15. The project took on unsustainable operations while founders injected personal funds to maintain operations. Delayed fundraising caused bill accumulation, and the final funding round failed, with raised capital returned to investors.

The team has allocated remaining two months of operating funds to pay employees and suppliers as fairly as possible, though insufficient to cover all costs. The Drift protocol attack subsequently depleted remaining capital and personal reserves. Users affected by the Drift attack will receive recovery tokens when distributed by the Drift team.