DeFi Platform Drift Halts Transactions Following Multi-Million Crypto Hack

Decentralized finance company Drift has halted withdrawals and deposits following a confirmed security breach. The platform announced on X that it is “experiencing an active attack” and is taking steps to “contain the incident.” Security researchers and blockchain data indicate the potential losses are substantial. CertiK, a blockchain security firm, estimated losses at $136 million, while Arkham, a crypto analytics firm, suggested a figure around $285 million. If accurate, this would be the largest crypto theft this year, surpassing previous incidents tracked by the Rekt leaderboard. The attackers responsible for this breach have not been identified, and a Drift spokesperson has not yet provided a comment. Last year, security firms linked North Korea to most crypto thefts, amassing over $2 billion to aid its nuclear program and evade global financial sanctions.