Solana-based DeFi platform Drift suspends activity after exploit estimated at up to about $285 million

What did Drift do after detecting the incident?

Drift said it was facing an active attack, suspended deposits and withdrawals, and told users not to deposit funds while it investigated and worked with security firms, bridges, and exchanges to contain the breach Bloomberg Business,TechCrunch,Crypto Briefing.

How large was the exploit?

The exact total was still being assessed, but multiple security and analytics firms cited by news outlets estimated losses in the hundreds of millions of dollars, with several reports clustering around roughly $280 million to $285 million Bloomberg Business,TechCrunch,Cointelegraph,AMBCrypto.

What happened to the stolen funds?

Reports citing blockchain data said the attacker moved multiple assets and converted at least some of them into USDC after the exploit Bloomberg Business,Cointelegraph,FXStreet.