{"id":96248,"date":"2026-04-16T17:01:19","date_gmt":"2026-04-16T14:01:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=96248"},"modified":"2026-04-16T17:05:17","modified_gmt":"2026-04-16T14:05:17","slug":"drift-secures-127-million-from-tether-for-hack-victim-compensation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/drift-secures-127-million-from-tether-for-hack-victim-compensation\/","title":{"rendered":"Drift Secures $127 Million from Tether for Hack Victim Compensation"},"content":{"rendered":"<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">The Solana<\/a>-based protocol Drift has raised $148 million from <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">Tether<\/a> and other partners to recover from a <a href=\"https:\/\/forklog.com\/en\/news\/drift-protocol-on-solana-loses-280m\">$295 million hack<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, Drift is announcing a collaboration with <a href=\"https:\/\/twitter.com\/tether?ref_src=twsrc%5Etfw\">@tether<\/a> and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery.<\/p>\n<p>These funds encompass a $100M revenue-linked credit facility, an ecosystem\u2026<\/p>\n<p>\u2014 Drift (@DriftProtocol) <a href=\"https:\/\/twitter.com\/DriftProtocol\/status\/2044765309454721294?ref_src=twsrc%5Etfw\">April 16, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The support package includes a $100 million revenue-linked credit line, an ecosystem grant, and loans to <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-market-maker\">market makers<\/a>.<\/p>\n<p>Initially, a significant portion of the platform&#8217;s revenue and the raised funds will be directed to a special pool for compensating users. As revenues grow, Drift hopes to fully cover the losses.\u00a0<\/p>\n<p>To facilitate payments, developers will issue a special token for each affected user. This asset will certify the right to claim from the compensation pool. Details of the mechanism will be provided later, the project team noted.\u00a0<\/p>\n<p>Following the news, the price of DRIFT surged by more than 21% to $0.05.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-83a47ca23f09f819-1949281038059158.webp\" alt=\"image\" class=\"wp-image-278561\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/drift-protocol\">CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Relaunch\u00a0<\/h2>\n<p>The developers will completely relaunch the protocol. Each component will undergo independent audits conducted by Ottersec and Asymmetric.\u00a0<\/p>\n<p>Drift will implement a <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-multisignature-what-is-a-ring-signature\">multisignature<\/a> system managed by the community. Signatories will operate on isolated devices, and transactions will be independently verified before signing.\u00a0<\/p>\n<p>For critical administrative actions, time locks and real-time alerts will be introduced. Long-term one-time numbers will be disabled.<\/p>\n<p>As part of the relaunch, Drift will also switch its base settlement layer from <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> to USDT. Previously, the community criticized the company behind the stablecoin, Circle, for not freezing the stolen funds. The attackers withdrew over $60 million in USDC.\u00a0<\/p>\n<p>Earlier in April, the project team <a href=\"https:\/\/forklog.com\/en\/news\/drift-protocol-reveals-details-of-280-million-hack\">disclosed<\/a> details of the hack. The attack was orchestrated by hackers from North Korea.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana-based protocol Drift has raised $148 million from Tether and other partners to recover from a $295 million hack.<\/p>\n","protected":false},"author":1,"featured_media":96249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Drift raised $148 million from Tether and partners to recover from a $295 million hack.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,44,1093,1159,1245],"class_list":["post-96248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-cybercrime","tag-defi","tag-solana-sol","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"Drift raised $148 million from Tether and partners to recover from a $295 million hack.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=96248"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96248\/revisions"}],"predecessor-version":[{"id":96250,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96248\/revisions\/96250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/96249"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=96248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=96248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=96248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}