Drift Protocol Announces $150M Tether-Backed Plan for Relaunch and User Recovery
BeInCrypto
Drift Protocol has secured $150 million, primarily from Tether, to facilitate a platform relaunch and compensate users after a massive April exploit.Summary
Drift Protocol is launching a $150 million recovery plan, supported by Tether, following a significant security breach in April that drained over $270 million. The initiative includes a $100 million credit facility and ecosystem grants to aid protocol relaunch, with USDT serving as the primary settlement asset. Affected users will be compensated via a new transferable token, and the protocol is implementing enhanced security audits and a community-governed multisig system to prevent future attacks.
(Source：BeInCrypto)