Solana DEX Drift Protocol Reportedly Hacked, Token Drops Nearly 20%

Solana decentralized exchange Drift Protocol has been reportedly hacked. While there hasn’t been an official confirmation, it’s DRIFT token has crashed nearly 20% after the rumors.

The decentralized exchange, built on Solana for perpetual futures trading, integrates Circle’s USDC infrastructure for collateral and transfers.

Mert Mumtaz, co-founder and CEO of Helius, raised the alarm in a post on X.

He said there was a “high likelihood of a potentially large exploit” and urged Circle to respond.

Initially crypto community took at as a April’s Fool joke, but Mert repeatedly expressed the urgency of the matter.

That uncertainty quickly spread across the market and trading community.As a result, the DRIFT token saw an immediate sell-off. Data shows the token dropped over 17% within an hour, falling to around $0.058.

This is a developing story.

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