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Home/Briefs/decentralized finance
BriefApril 17, 2026 · 05:14 PM

Drift Announces $150 Million Recovery Pool for Hack Victims, Backed by Tether

Affected users of Drift, a Solana-based decentralized finance protocol, will receive compensation through a $150 million recovery plan. Tether has pledged up to $127.5 million to fund the initiative, with other partners contributing up to $20 million. The initial compensation will come from a portion of Drift's revenue and the newly established Recovery Pool. The protocol aims to fully cover $295 million in user losses as its revenue grows. Stolen assets are being traced, and any recovered funds will go directly into the Recovery Pool. Affected users will also receive transferable recovery tokens, separate from the existing Drift token, with details to be disclosed later.

Reagan Villiers
decentralized financeDeFi securitycrypto recovery

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