Drift Hack Victims Get Meager Compensation from DFX Recovery Token
The Drift exploit victims have expressed frustration over the repayment rate of the DFX recovery token. The token, created to compensate for losses in the $295.4 million hack that occurred on April 1, works out to roughly one cent per dollar lost.
According to an October 1 release by the project, the claims and redemptions window has been opened, providing a portal for tens of thousands of affected users. However, this comes with concerns over fairness, as early redeemers may forfeit their remaining claims.
The math behind the DFX token is based on a calculation that converts each verified dollar lost in the Drift hack to one DFX token. The USDT value of these tokens is not fixed and is calculated by dividing the Recovery Pool balance by the number of DFX still outstanding.
Speculative trading on DFX has quickly picked up, with the token climbing about 210% in 24 hours to around $0.03, although with thin liquidity of around $200,000, implying volatility.