Drift Protocol suspended all operations Monday after detecting suspicious activity suggesting a major security breach. The Solana-based perpetuals platform urged users not to deposit funds while investigators examine the incident.
The protocol confirmed it was experiencing an active attack, immediately suspending deposits and withdrawals. Company officials coordinated with security firms, bridges, and exchanges to contain the breach.
Blockchain tracking firm Lookonchain reported over $270 million in assets were transferred to a wallet identified as HkGz4K. The platform did not confirm loss figures in official statements, though the transfer represents one of the largest DeFi exploits this year.