
According to an official announcement posted by Drift Protocol on the X platform on May 6, Drift Protocol has officially launched a user recovery plan for the users affected by the April 1 hack incident: each affected wallet will receive a “Recovery Token,” with each token corresponding to a verified loss of 1 US dollar, as a pro-rata claim certificate for the recovery pool.

(Source: Drift Protocol official website)
According to Drift Protocol’s official announcement, the Recovery Token is a transferable SPL token that exists independently of the DRIFT governance token; the redemption rules are as follows:
Redemption Threshold: When the recovery pool funds exceed 5 million US dollars, the redemption channel will open
Redemption Formula: Redemption price = Total value of the recovery fund ÷ Total amount of Recovery Tokens not yet redeemed
Early Redemption Clause: Users may redeem at any time, but early redemption means waiving the remaining claim rights against the recovery pool; any tokens not claimed after the claim window closes will be destroyed
Maximum Target: After the recovery pool reaches the full amount of losses, all Redemption Tokens that have not been redeemed can be redeemed at face value or a higher price
According to Drift Protocol’s official announcement, the insurance fund was not affected by this attack; the notional value before the attack was approximately 20 million US dollars; the use of its funds must be determined through a governance proposal and a DAO vote.
According to Drift Protocol’s official announcement, the recovery pool will continue to grow from the following three sources: most of the quarterly net revenue from exchanges (directly injected in USDT terms); Tether’s matching deployments of up to 127.5 million US dollars (calculated pro rata based on the previous quarter’s exchange revenue); and up to 20 million US dollars committed by strategy partner(s).
According to Drift Protocol’s official announcement, most of the stolen assets from the April 1 attack are still traceable and have been frozen:
· Four Ethereum wallets controlled by the attacker hold approximately 130,259 ETH (about 293 million US dollars), and have been flagged across exchanges and relevant parties
· A Wormhole administrator has delayed two bridged transfers (59.37 WBTC and 557.90 WETH) to late July
· Circle’s CCTP has frozen three transfers, totaling about 3.36 million USDC; Drift is working with law-enforcement authorities to obtain seizure orders
According to a Drift Protocol notice, the forensics firm Mandiant has confirmed that this attack was carried out by a North Korea–linked threat organization; legal proceedings are underway, and there is currently no confirmed timeline for recovery. Drift plans to relaunch in Q2 2026 with a brand-new procedure, brand-new addresses, and rotated keys, focusing on perpetual contracts and curated markets; all major decisions will require DAO votes.
According to Drift Protocol’s official announcement, wallets affected by the April 1 attack can claim Recovery Tokens when the claim window opens; after the recovery pool exceeds 5 million US dollars, it can be redeemed, and the redemption price is the total value of the recovery pool divided by the total amount of Recovery Tokens not yet redeemed; early redemption means forfeiting the remaining claim rights.
According to Drift Protocol’s official announcement, Tether has committed up to 127.5 million US dollars to support the protocol restart and user recovery, and the deployment amount is calculated pro rata based on the previous quarter’s net revenue of the exchanges.
According to Drift Protocol’s notice and Mandiant’s confirmation, the attack was carried out by a North Korea–linked threat organization; most assets are still being tracked or frozen, including approximately 293 million US dollars worth of ETH and funds frozen via Wormhole and Circle CCTP. Legal proceedings are underway.
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