What happened in the Drift Protocol hack?

Hackers took Security Council control via pre-signed txs and nonces, draining $280M without touching code.

How much did Drift Protocol lose in the hack?

Around $280-285 million, hitting deposits, vaults, and trading funds on Solana.

Functions frozen, investigation ongoing — avoid deposits until post-mortem confirms fixes.

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

Threat Digest Apr 02, 2026 3 min read 12 views

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

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#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