Velocity Exchange news

Incident 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.

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