Carrot Shuts Down Amid Drift Protocol Exploit Fallout

Carrot, a decentralized finance (DeFi) yield protocol on the Solana blockchain, has announced its permanent shutdown due to financial difficulties stemming from the Drift Protocol exploit in early April.

The platform's Total Value Locked (TVL) had collapsed significantly after the hack, decreasing by 93% from approximately $28 million to around $1.99 million, as per DeFiLlama data.

In a post on X, Carrot assured users that their deposited funds were still theirs and that any recovery efforts by Drift would be distributed as stated previously.