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Drift's $280M Solana Hack Freezes Largest Perps Exchange as Attack Rages On

Solana was riding high as crypto's speed demon. Then Drift, its biggest perps platform, got hammered for $280 million in a sophisticated hack that's still unfolding.

Priya Sundaram 📅 Apr 03, 2026 ⏱️ 4 min read 👁️ 0 views
Drift Protocol website banner announcing pause due to cyberattack on Solana blockchain

⚡ Key Takeaways

  • Drift lost $280M in a sophisticated admin takeover on Solana, freezing the largest perps exchange.
  • Attack involved multi-week prep, multisig hacks, and a vulnerable CVT borrow market.
  • Exposes Solana DeFi's security risks; expect TVL drop and trader exodus.

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Priya Sundaram
Written by

Priya Sundaram

Hardware and infrastructure reporter. Tracks GPU wars, chip design, and the compute economy.

#Drift hack #Solana exploit #crypto exchange attack #perpetual futures

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Originally reported by PYMNTS

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