Drift Protocol Hit by Severe Exploit, Estimated Losses Reach $285 Million

Drift Protocol, a Solana-based perpetual exchange, has been affected by a severe exploit on April 1, 2026. According to reports, the incident led to losses estimated to be around $285 million, with the protocol's total value locked (TVL) declining by more than half within 24 hours.

The DRIFT token also suffered significant losses, crashing over 36% in the same period. The exploit has raised concerns about the security of Solana's DeFi ecosystem and the potential for contagion effects on other protocols.