Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Elliptic: The Drift attack incident is suspected to be carried out by a North Korean hacker organization
According to CoinDesk, blockchain analytics firm Elliptic stated that the Drift Protocol attack resulted in a loss of $285 million, with "multiple signs" pointing to the North Korean-supported DPRK hacker organization. Elliptic focused on analyzing on-chain behavior, money laundering techniques, and signals at the network level, all of which align with previous state-affiliated attacks.
The Elliptic report noted: "If confirmed, this would be the 18th DPRK attack tracked by Elliptic this year, with over $300 million stolen to date." On a technical level, Elliptic described this attack as "premeditated and meticulously planned," with early test transactions and pre-positioned wallets prior to the main attack. After the execution of the attack, the funds were quickly consolidated and transferred across chains, converted into more liquid assets, forming an organized and repeatable money laundering process aimed at obscuring the source of funds while maintaining control.
This incident involved over ten types of assets, with funds being transferred across chains from Solana to Ethereum and other chains, further highlighting the importance of cross-chain tracing capabilities. Drift Protocol is the largest decentralized perpetual contract trading platform on the Solana blockchain, and its token has dropped over 40% to approximately $0.06 since the hack.
You may also like
Dialogue with the founder of Pantera: Bitcoin has reached escape velocity, traditional assets are being left behind
The growth dilemma of Base: everything was done right, yet users still leave
Predicting the World Cup "Showdown": Over 150 projects are gearing up, with a total investment of nearly 6 billion dollars
RootData launches the "A-Level Transparency Project Briefing," directly reaching the cryptocurrency listing decision-making chain
What does DeFi look like that Wall Street wants?
Drift Protocol Hack: Understanding One of the Largest Solana Ecosystem Breaches
Key Takeaways Drift Protocol, a decentralized exchange on Solana, experienced a $270 million hack, making it one of…
Navigating the Drift Protocol Security Incident: What You Need to Know
Key Takeaways On April 2, Drift Protocol experienced a security breach where a malicious actor gained administrative control.…
Upbit and Bithumb Designate DRIFT as a Trading Alert Item
Key Takeaways Upbit and Bithumb have labeled DRIFT as a “trading alert” asset following guidance from the Digital…
“Brother Maji” Faces Potential Liquidation with ETH Long Position
Key Takeaways “Brother Maji” currently holds a substantial 25x leveraged long position of 6,000 ETH. The position was…
Wormhole’s Response to Drift Protocol Incident: Delays in Cross-Chain Transfers
Key Takeaways Wormhole confirmed that user assets remain safe despite the Drift Protocol attack. The Solana ecosystem’s built-in…
Bitget Launchpool and MEZO: Navigating the Crypto Reward Opportunities
Key Takeaways Bitget Launchpool offers a way to earn tokens like MEZO by staking assets. The current MEZO…
XRP Price Prediction: Could Ripple Transform into a National Bank?
Key Takeaways: The OCC’s final rule effective from April 1 disrupts traditional banking, potentially allowing Ripple to emerge…
Ripple XRP Approaches National Bank Status: OCC Rule’s Impact
Key Takeaways: Ripple’s journey to full national trust bank status advanced significantly with the OCC’s new rule on…
Cardano Price Forecast: Is ADA Recovery a Bull Trap?
Key Takeaways: Cardano’s price recovery to $0.27 raises questions about whether this is a genuine trend change or…
BNB Price Prediction: Is Binance’s New Prediction Market a Game-Changer?
Key Takeaways: BNB holds a psychological price level at $614, with bullish momentum fueled by Binance’s prediction market.…
Fed’s Barr Advocates Stringent Stablecoin Oversight Amid Historical Lessons
Key Takeaways: Fed Governor Michael Barr stresses the necessity of rigid stablecoin oversight, referencing historical financial instabilities. The…
Solana Price Prediction: Interactive Brokers Backs SOL, Galaxy Digital Expands Support
Key Takeaways: Solana trades sluggishly at $84, despite backing from Interactive Brokers and Galaxy Digital. Institutional interest positions…
Ethereum Price Forecast: Will ETH Sustain Its Momentum?
Key Takeaways: Ethereum ended March with a 7% gain, vastly outshining Bitcoin’s modest 1% increase. Ethereum showed a…
Dialogue with the founder of Pantera: Bitcoin has reached escape velocity, traditional assets are being left behind
The growth dilemma of Base: everything was done right, yet users still leave
Predicting the World Cup "Showdown": Over 150 projects are gearing up, with a total investment of nearly 6 billion dollars
RootData launches the "A-Level Transparency Project Briefing," directly reaching the cryptocurrency listing decision-making chain
What does DeFi look like that Wall Street wants?
Drift Protocol Hack: Understanding One of the Largest Solana Ecosystem Breaches
Key Takeaways Drift Protocol, a decentralized exchange on Solana, experienced a $270 million hack, making it one of…
App