Drift news
The latest Drift update, April 1, 2026: Drift loses more than $280M in multisig exploit; protocol relaunches as Velocity. Attackers drained the Solana perpetuals exchange in about 12 minutes. Checked against Drift's own announcements or two reputable outlets.
Updated 2026-10-17 · all venue newsIncident April 1, 2026
Drift loses more than $280M in multisig exploit; protocol relaunches as Velocity
Drift, a Solana perpetuals exchange, was exploited on 1 April 2026 with losses reported at more than $280 million. Attackers are reported to have taken assets in about 12 minutes across 31 transactions after gaining access to Drift's multisig wallets.
Who is affected: Drift depositors and traders with positions or balances at the time of the exploit; users moving to Velocity must open new accounts.
Drift is merged. Drift was exploited for more than $280M on April 1, 2026 and has not operated since; the Drift program is paused. The team relaunched as Velocity, a new fork of Drift v2 with a new program ID, USDT instead of USDC as quote asset, and no onchain state carried over. Velocity removed its whitelist on Sept 21, 2026. Fees and referral data below are Velocity's. See velocity instead
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