🔓 Data Breaches

Drift Protocol's $280M Governance Hijack Exposes DeFi's Multisig Weak Spot

Solana's DeFi darling, Drift Protocol, just got gutted for $280 million. Hackers didn't touch code; they owned the multisig council instead.

Priya Sundaram 📅 Apr 02, 2026 ⏱️ 3 min read 👁️ 0 views

⚡ Key Takeaways

Hackers exploited governance multisig, not code, draining $280M via pre-signed transactions.
Solana DeFi trust shaken; expect TVL dips and competitor gains.
Multisig needs overhaul — AI hybrids incoming to prevent repeats.

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Hardware and infrastructure reporter. Tracks GPU wars, chip design, and the compute economy.

#Drift Protocol hack #Security Council takeover #Solana DeFi exploit #crypto theft 2024 #multisig security failure #multisig vulnerability

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Originally reported by Bleeping Computer