Drift (DRIFT)

A wallet linked to the Drift Protocol Team deposited 56.25M $DRIFT worth $2.44M into #Bybit and #Gate since the hack.

https://t.co/TYDga9Dhtx https://t.co/lt9rocKTfi

i can't stop thinking about the drift protocol hack.

not because of the $280m. we've seen big numbers before. i can't stop thinking about how it happened. and what it says about everything we're building.

on april 1st, while people were posting jokes, an attacker drained $280 million from drift protocol in minutes. the team had to literally tweet "this is not an april fools joke."

but this didn't start on april 1st. it started on march 23rd.

that's when the attacker created four durable nonce accounts. two tied to drift's own security council multisig members. two controlled by the attacker. quietly. no alarms. no flags.

on march 27th, drift migrated their security council due to a routine member change. by march 30th, the attacker had already compromised a signer on the new multisig too.

then on april 1st, they executed.

a test transaction first. then one minute later, two pre-signed transactions fired four slots apart. admin takeover. withdrawal limits removed. a malicious asset introduced. every vau