De-fi platform Drift suspends deposits and withdrawals after millions in crypto stolen in hack

Decentralized finance company Drift has announced the suspension of all deposits and withdrawals due to a verified security incident.

In a statement on X, the platform disclosed that it was “experiencing an active attack” and is taking steps to “contain the incident.”

Initial assessments from security researchers and public blockchain data indicate that the financial impact could be significant. According to blockchain security firm CertiK, it is estimated that approximately $136 million may have been taken by hackers, while crypto analytics firm Arkham has suggested the loss could be as high as $285 million.

If substantiated, this would represent the largest cryptocurrency theft of the year to date, as tracked by the Rekt leaderboard, which monitors significant crypto thefts.

At this time, the identity of the attackers remains unknown, and a spokesperson for Drift has not provided any additional comments following the initial reports.

It is worth noting that North Korea has been implicated in numerous cryptocurrency thefts over the past year, with estimates of total thefts reaching at least $2 billion. This activity is believed to be aimed at financing its nuclear weapons program while circumventing international sanctions that restrict its access to the global financial system.

For continued updates, it is advisable to monitor industry discussions and communications from Drift.

Tags:

• cryptocurrency
• cybersecurity
• data breach
• security