Drift Protocol Team Deposes $2.4M in DRIFT Tokens to Exchanges

The Drift Protocol team has made a significant on-chain transaction by depositing approximately $2.4 million worth of DRIFT tokens to major exchanges Bybit and Gate.io. This move follows a confirmed security incident that involved an unauthorized withdrawal of funds from the protocol's smart contracts.

According to blockchain analytics firm Onchain Lens, the 56.25 million DRIFT tokens were moved to the exchanges shortly after public confirmation of the exploit. The deposit split between two major trading platforms, with a significant portion going to Bybit and the remainder reaching Gate.io.