BEARISH 📉 : Solana’s Drift Protocol halts deposits, withdrawals after $270M vault drain
Drift Protocol vault drained of ~$270M; deposits paused amid active attack
Drift Protocol on Solana saw about $270 million exit its main vault on April 1, 2026. The team paused deposits and withdrawals, citing an “active attack.” Arkham vault data • Drift statement
The vault balance fell from $309 million to roughly $41 million in fast, multi-asset transfers. Arkham
Drift’s TVL stood near $550 million when flagged. DefiLlama
Key on-chain moves:
- 41 million JLP (~$155 million) sent from the vault to address HkGz4K. Arkham receiver
- That address was funded with 1 SOL about a week earlier and received a $2.52 test transfer from the vault in late March. Arkham receiver • Arkham vault
- Assets swept included stablecoins, wrapped Bitcoin variants, LSTs (MSOL, BSOL, INF, JitoSOL), and Jupiter’s JLP; plus USDT transfers totaling ~$5.65 million, 23.366 million FARTCOIN (~$4.11 million), and 2.865 million SYRUP USDC (~$3.32 million). Lookonchain
- The suspected exploiter began swapping drained assets into ETH. Lookonchain
“We are coordinating with multiple security firms, bridges, and exchanges to contain the incident.” Deposits and withdrawals remain suspended. Drift statement
DRIFT fell 28% to about $0.049 on April 1. TradingView
Source: Lookonchain