Solana developer Mert Mumtaz has reported that Drift Protocol may have fallen victim to a hacking incident.
Mumtaz mentioned in his announcement that there are strong indications that the decentralized derivatives exchange Drift Protocol may have been attacked by hackers.
The estimated loss from this attack is around $200 million.
It is said that the attackers created a bridge connecting Solana and Ethereum, extracting assets from the system and minting USDC. Currently, approximately $4 million worth of USDC has been minted, and these funds may be frozen on the Ethereum network.
Additionally, reports indicate that around $4 million in Fartcoin and $3 million in Syrup Coin were stolen during this attack. The specifics of how these assets were transferred and the technical details of the attack remain unclear.
Following the announcement of the attack, Drift's price experienced a sudden drop.
More details will be updated soon...