Drift

Burn

Merge

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World Liberty Financial

Drift, the Solana-based perpetuals exchange, said Thursday it lined up nearly $150 million with Tether and other partners to fund a relaunch centered on USDT<a href="https://yellow.com/asset/usdt" rel="noopener noreferrer nofollow">(USDT)</a> and reimbursement for users <a href="https://yellow.com/news/How%20Attackers%20Turned%20$500%20Into%20$285M:%20The%20Drift%20Hack%20Breakdown" rel="noopener noreferrer nofollow">hit by April's $285 million exploit</a>.
<h2 id="drift-tether-rescue-package">Drift Tether Rescue Package</h2>
The package includes a $100 million revenue-linked credit facility, an ecosystem grant, and loans to market makers, the team said on X. Proceeds will seed a dedicated user recovery pool.
Drift <a href="https://x.com/DriftProtocol/status/2044765309454721294?s=20" rel="noopener noreferrer nofollow">described</a> the arrangement as a collaboration to support its path back to trading.
The recovery pool will cover users affected by the April exploit, the team said.
Also Read:<a href="https://yellow.com/news/world-liberty-financial-insider-token-burn" rel="noopener noreferrer nofollow">World Liberty Financial Demands Insiders Burn 10% Of Their WLFI Or Stay Locked</a>
<h2 id="defi-exploit-aftermath">DeFi Exploit Aftermath</h2>
Analysts had flagged user reimbursement as the main hurdle to any Drift relaunch, given the scale of losses. Security firm TRM Labs called timelocks and oracle defense-in-depth the key lessons from the attack.
A credit facility tied to future revenue lets Drift rebuild without diluting its token.
On April 1, <a href="https://yellow.com/news/drift-protocol-exploit-solana" rel="noopener noreferrer nofollow">attackers drained roughly $285 million from Drift vaults</a> in about 12 minutes, in what TRM and Elliptic attributed to North Korean threat actors. The DRIFT token fell more than 40% during the incident, and the protocol's total value locked dropped from $550 million to under $250 million.
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Drift Lines Up $150M Tether Deal To Relaunch After $285M Hack

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