Drift, a DeFi platform, suspends operations amid a hack that stole millions in crypto, with unconfirmed estimates ranging from $136 million to $285 million.
Decentralized finance platform Drift announced it has suspended deposits and withdrawals after detecting a security incident involving the theft of cryptocurrency. The company posted on X that it is experiencing an active attack and is working to contain the breach.
According to blockchain security firm CertiK, hackers may have stolen approximately $136 million, while crypto analytics firm Arkham reported a figure of around $285 million. These estimates come from public blockchain data and have not been confirmed by Drift.
If the reported losses are verified, the incident could rank as the largest cryptocurrency theft of the year, based on data from the Rekt leaderboard, which tracks major crypto hacks by size.
Details of the Attack
Drift did not immediately respond to requests for comment, and the identity of the attackers remains unclear. The platform, which operates in the decentralized finance sector, allows users to trade and manage crypto assets.
In the broader context of cryptocurrency security, such incidents highlight ongoing risks, as previous reports have linked similar thefts to state actors, though no specific attribution has been made in this case. This event adds to the series of hacks affecting the crypto industry in recent years.
Drift's suspension aims to prevent further losses, with the company focusing on securing its systems. Users are advised to monitor official channels for updates on when services might resume.