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On the first day of April,&nbsp;<a href="https://thestreet.com/crypto/tag/solana" rel="noopener noreferrer nofollow">Solana</a>-based Drift Protocol <a href="https://www.thestreet.com/crypto/markets/another-exchange-gets-hacked-for-200m" rel="noopener noreferrer nofollow">got hacked</a> for approximately $280 million in different crypto assets.
Though the cryptocurrency platform is <a href="https://www.businesswire.com/news/home/20260416607266/en/Drift-Protocol-Tether-and-Partners-Announce-Up-to-Nearly-%24150-Million-Strategic-Collaboration-to-Support-User-Recovery-and-Drift-Protocols-Shift-to-USDT" rel="noopener noreferrer nofollow">attempting</a> a comeback and an asset recovery, it's the largest hack of the year.
However, other crypto platforms have also fallen prey to hacks and shutdowns this week.
<a href="https://www.thestreet.com/crypto/markets/major-crypto-firm-replaces-ceo-fires-staff-after-acquisition-spree" rel="noopener noreferrer nofollow">Related: Major crypto firm replaces CEO, fires staff after acquisition spree</a>
<h2 id="crypto-exchange-suspends-operations-after-hack">Crypto exchange suspends operations after hack</h2>
Grinex, a&nbsp;Kyrgyzstan-based crypto trading exchange linked to Russia, <a href="https://grinex.io/?lang=en" rel="noopener noreferrer nofollow">said</a> on Apr. 16 that it got hacked&nbsp;for more than $13 million in a&nbsp;large-scale cyberattack. The platform suspected hostile foreign intelligence agencies for the hack.
The exchange said it has suspended&nbsp;operations following the attack, filed a complaint, and passed all&nbsp;available information to&nbsp;law enforcement agencies.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/u-s-moves-seized-assets-hours-before-hormuz-announcement" rel="noopener noreferrer nofollow">U.S. government moves seized assets ahead of Iran's Hormuz announcement</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/circle-slapped-with-class-action-lawsuit-over-2026s-largest-hack" rel="noopener noreferrer nofollow">Circle slapped with class-action lawsuit over 2026's largest hack</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/billionaire-tim-draper-doubles-down-on-bold-bitcoin-target" rel="noopener noreferrer nofollow">Billionaire Tim Draper doubles down on bold Bitcoin target</a></li>
</ul>
<h2 id="nft-platform-shuts-down">NFT platform shuts down</h2>
Foundation, an&nbsp;Ethereum-based&nbsp;non-fungible token (NFT) platform, is shutting down, co-founder and CEO&nbsp;Kayvon Tehranian <a href="https://x.com/saturnial/status/2044555725717098750" rel="noopener noreferrer nofollow">announced</a> on Apr. 15.
Earlier this year,&nbsp;Foundation&nbsp;entered into an agreement to sell the platform to a buyer so that the operations could continue, but the acquisition didn't get completed, he shared with the community on X.
There isn't any other buyer worth pursuing, so Foundation is shutting down, Tehranian&nbsp;added.
Foundation later <a href="https://x.com/foundation/status/2044892956931260423" rel="noopener noreferrer nofollow">shared</a> that the platform would come back online so that NFT artists can delist their works.
<h3 id="more-on-shutdowns">More on Shutdowns:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/bankruptcy/major-crypto-firm-announces-shutdown-after-116m-hack" rel="noopener noreferrer nofollow">Major crypto firm announces shutdown after $116M hack</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/major-payments-firm-announces-good-friday-shutdown" rel="noopener noreferrer nofollow">Major payments firm announces Good Friday shutdown</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/popular-crypto-game-shuts-down-among-high-profile-exits" rel="noopener noreferrer nofollow">Popular crypto game shuts down among high-profile exits</a></li>
</ul>
<h2 id="more-exits">More exits</h2>
Mint Blockchain, a layer-2&nbsp;Ethereum&nbsp;blockchain network popular for NFT&nbsp;infrastructure, also&nbsp;<a href="https://x.com/Mint_Blockchain/status/2044980026819617147" rel="noopener noreferrer nofollow">announced</a>&nbsp;that it has&nbsp;officially ceased operations&nbsp;on Apr. 17.
The platform urged users to <a href="https://www.mintchain.io/withdraw" rel="noopener noreferrer nofollow">withdraw</a> the crypto assets, <a href="https://thestreet.com/crypto/ethereum" rel="noopener noreferrer nofollow">Ether</a>&nbsp;(ETH), Wrapped Bitcoin (WBTC), <a href="https://www.thestreet.com/crypto/markets/circle-slapped-with-class-action-lawsuit-over-2026s-largest-hack" rel="noopener noreferrer nofollow">USDC</a> and <a href="https://www.thestreet.com/crypto/markets/sp-downgrades-tether-to-lowest-rating" rel="noopener noreferrer nofollow">USDT</a> stablecoins, and transfer them to the Ethereum mainnet by Oct. 20, 2026, so that their funds remain secure.
If the users don't withdraw their funds by the deadline, these assets will not be available for processing, Mint warned.
NFTs are unique digital assets stored on a <a href="https://www.thestreet.com/crypto/explained/what-is-blockchain-explained" rel="noopener noreferrer nofollow">blockchain</a>, representing ownership or proof of authenticity for items such as art, music, collectibles, videos, or virtual goods.
NFTs became <a href="https://www.thestreet.com/crypto/markets/kevin-oleary-now-loves-louis-vuitton-labubu-toy-disses-fad-nfts" rel="noopener noreferrer nofollow">mainstream in 2021 </a>as artists, brands, and game developers began selling digital art.&nbsp;But over the years,&nbsp;their popularity has declined due to market saturation, falling resale values, and waning speculative interest.&nbsp;
As reported earlier, Nike's&nbsp;<a href="https://www.thestreet.com/crypto/markets/nike-quietly-says-goodbye-to-nft-subsidiary" rel="noopener noreferrer nofollow">RTFKT</a>,&nbsp;<a href="https://www.thestreet.com/crypto/markets/iconic-crypto-marketplace-shuts-down-users-fear-losing-millions" rel="noopener noreferrer nofollow">Nifty Gateway</a>, and&nbsp;<a href="https://www.thestreet.com/crypto/bankruptcy/another-nft-platform-is-closing-permanently" rel="noopener noreferrer nofollow">Rodeo</a>&nbsp;are other NFT platforms that shut down earlier this year.
<a href="https://www.thestreet.com/crypto/markets/nike-quietly-says-goodbye-to-nft-subsidiary" rel="noopener noreferrer nofollow">Related: Nike quietly says goodbye to NFT arm</a>

Another crypto platform suspends operations

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