Drift suspends services amid reported crypto theft estimates of up to $285 million
Summary
Drift Protocol confirmed an active attack and suspended deposits and withdrawals. Security firms estimated losses from about $130 million to over $285 million; the attacker was reportedly converting funds as responders worked to contain the incident.
Key points
- Drift Protocol confirmed an active attack and suspended deposits and withdrawals.
- Blockchain security firms estimated losses ranging from about $130 million to over $285 million; Drift did not confirm the amount.
- Experts said the attacker was repeatedly converting funds into other coins.
- Drift said it was coordinating with security firms, bridges, and exchanges to contain the incident.
- The article did not establish how the attacker gained access; crypto sleuths were still debating the method.
Article Details
- Victim Organization
- Drift Protocol
- Incident Type
- Cyberattack resulting in cryptocurrency theft from a decentralized finance platform
- Data Types Exposed
- Cryptocurrency funds
- Affected Records
- Unknown
- Affected Data Size
- Blockchain security firms estimated losses of at least $130 million; PeckShield estimated losses exceeded $285 million. Drift did not disclose an amount.
- Operational Impact
- Drift suspended deposits and withdrawals while coordinating with security firms, bridges, and exchanges to contain the attack.
- Ransom Or Extortion
- Unknown
- Claim Status
- confirmed
Products
Industries
CryptocurrencySecurity experts say hundreds of millions of dollars in cryptocurrency were stolen from Drift after the platform confirmed an active cyberattack and suspended deposits and withdrawals.Decentralized financeSecurity experts believe hundreds of millions of dollars worth of cryptocurrency were stolen from decentralized finance platform Drift on Wednesday after the site confirmed it was experiencing a cyberattack.