Drift Loses $200M in Solana Exploit as Token Plummets 20%

Drift, a Solana-based trading platform, has been exploited in an attack that has drained at least $200 million from its protocol. The incident occurred on Wednesday and was first reported by Crypto News. The platform's team confirmed the breach in a post on X, urging users to avoid depositing funds while the investigation is underway.

The exploit began more than two hours before Drift posted its public alert. Losses are estimated at a minimum of $200 million, with some on-chain data placing the figure closer to $270 million. The attacker used an admin signer key to drain multiple Drift vaults, including JLP Delta Neutral, Solana Super Staking, and Bitcoin Super Staking.

Blockchain security researcher Vladimir S suggested that the most likely cause was a compromised admin signer key. Whoever controlled that key either had it stolen or deliberately executed the changes. The attacker used that access to drain multiple Drift vaults and transfer funds to an interim wallet before splitting them across multiple addresses.