The Solana-based DeFi platform Drift Protocol says it’s under attack.
In a series of tweets on X, the team behind the protocol says it’s investigating unusual activity.
“We are currently investigating. Please do not deposit funds into the protocol while we investigate. This is not an April Fools joke. Proceed with caution until further notice. We’ll provide additional updates from this account.”
According to the onchain analytics platform Lookonchain, the protocol has been exploited, and over $270 million in crypto assets have been suspiciously transferred to wallet “HkGz4K.” The exploiter is swapping the stolen assets into USDC, then bridging them to Ethereum to buy ETH.
Lookonchain first reported the attacker had purchased 19,913 ETH worth $42.6 million.
An update shows the total has now reached 38,820 ETH worth $82.6 million.
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