emergencyBreaking NewsMortgage Rates Dip as Global Tensions Ease, but 'Lock-In' Effect Inhibits RefinancingA three-month extension on margin rule compliance could prevent forced sell-offs in Bangladesh’s distressed marketFundstrat Predicts S&P 500 Target of 7,300 as Sector Repricing Limits Pullback DepthStrong corporate earnings and investor skepticism keep markets from collapsing during Middle East crisisA rate cut is expected, but the data may force the ECB to holdMortgage Rates Dip as Global Tensions Ease, but 'Lock-In' Effect Inhibits RefinancingA three-month extension on margin rule compliance could prevent forced sell-offs in Bangladesh’s distressed marketFundstrat Predicts S&P 500 Target of 7,300 as Sector Repricing Limits Pullback DepthStrong corporate earnings and investor skepticism keep markets from collapsing during Middle East crisisA rate cut is expected, but the data may force the ECB to hold
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Home/Briefs/decentralized finance
BriefApril 9, 2026 · 10:45 PM

Social engineering gaps in DeFi security leave retail savings exposed

Ann Irvina Ravinther lost $76,000 in crypto savings after hackers withdrew $286 million from the Solana-based Drift Protocol on April 1. The theft resulted from social engineering rather than a code failure. Cybercriminals spent months building relationships with the Drift team at conferences while pretending to be a legitimate trading organization. These hackers tricked multisig signers into signing transactions they did not understand, granting the attackers admin control. The criminals then changed protocol permissions to withdraw the funds.

Kendall Garrett
Decentralized FinanceCybersecurityCrypto Assets

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