Drift Launches DFX Recovery Claims for April Exploit Victims

Drift has opened claims and redemptions for users affected by the April 1, 2026, exploit, starting on October 1, 2026. Victims with verified losses can claim DFX tokens at a rate of one token per USDT of loss. The initial redemption value was set at approximately 0.0104 USDT per DFX, translating to roughly 1.04% of the verified loss. The Recovery Pool, which stood at about 3.1 million USDT against nearly 299.5 million DFX tokens at launch, will determine future redemption values based on additional funds entering the pool.

The DFX tokens represent a claim on the Recovery Pool rather than an immediate payout. The redemption value fluctuates depending on the pool's balance and the outstanding DFX supply. On the first day of activity, users redeemed about 216,480 DFX for roughly 2,250 USDT, with minimal new revenue inflows. The Recovery Pool's initial balance primarily supported these payouts, with only 31 USDT contributed through protocol revenue on the first day.

Drift plans to replenish the Recovery Pool through daily contributions from Velocity’s net protocol revenue, up to 127.5 million USDT in Tether support, up to 20 million USDT from strategic partners, and any recovered stolen funds. The eventual recovery rate will depend on the timing and size of these contributions. The claim window remains open until January 1, 2028, after which any unclaimed DFX will be permanently burned.