Drift Suspends Deposits Amid Unusual Activity on Solana DeFi Protocol

Drift, a decentralized finance (DeFi) platform built on Solana, has announced that it is investigating unusual activity on its protocol. In a statement posted on X, the company urged users to refrain from depositing funds until the situation is resolved.

The warning was issued after reports emerged of irregular behavior tied to user positions, sparking concerns about potential exploitation. Helius CEO Mert Mumtaz added to the concern in a separate X post, stating that it appears Drift might be getting exploited.

The incident has led to a decline in the value of the Drift (DRIFT) token, with its price falling over 20% in recent hours. Solana's (SOL) price also experienced a temporary dip but has since recovered.