Drift Says $270 Million Exploit Was a Six-Month North Korean Intelligence Operation

Drift details how suspected North Korean attackers stole $270M posing as a quant trading firm in a 6+ month operation with in-person meetings and a $1M+ deposit (Shaurya Malwa/CoinDesk)

Shaurya Malwa / CoinDesk: Drift details how suspected North Korean attackers stole $270M posing as a quant trading firm in a 6+ month operation with in-person meetings and a $1M+ deposit — Attackers posed as a trading firm, met Drift contributors in person across multiple countries, deposited $1…

Drift says $270 million exploit was a six-month North Korean intelligence operation

Attackers posed as a trading firm, met Drift contributors in person across multiple countries, deposited $1 million of their own capital, and waited half a year before executing the drain CoinDesk detailed earlier this week.

North Korean Hackers Pose as Trading Firm to Steal $285M from Drift

North Korean hackers (UNC4736) posed as a trading firm for six months to infiltrate Drift Protocol, using social engineering tactics to steal $285M without suspicion.

North Korea Manufactured a Fake Token to Steal $286M From Drift Protocol and AI Is Making These Attacks Cheaper

The largest DeFi hack this year took place last week on April 1 as Drift Protocol, one of the largest perp DEXs on the solana network, experienced an exploit that saw roughly $286 million vanish from the protocol. The attack was tied to North Korean-linked hackers and the entire hack transpired in just 10 seconds. What’s astonishing about this hack however was the meticulous nature of it. No code was broken and no smart contract had a bug. Inves…

The Neutrality Paradox: How USDC's Greatest Strength Became Its $285M Dilemma

When Circle CEO Jeremy Allaire calls USDC "trustworthy, transparent, regulated," he means it can be frozen. That same capability — the ability to blacklist wallets and halt transactions — is what separates a regulated stablecoin from a purely algorithmic one. It is also the feature that makes USDC useful to law enforcement and the feature that creates a $285 million accountability question.Solana-based perpetuals exchange Drift Protocol lost $28…