Drift Protocol Secures $150M Recovery Lifeline Backed by Tether After $280M Exploit

BTCC / BTCC Square / Global Cryptocurrency /

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2026-04-17 14:31:01

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Drift Protocol has unveiled a structured recovery plan following a devastating $280 million exploit, one of the largest in DeFi history. Tether and other partners are providing nearly $150 million in support, prioritizing affected users.

The funding mechanism ties recovery to platform activity—user balances will be restored progressively as trading resumes. Exchange revenue will further aid restitution while ensuring operational scalability. Law enforcement and forensic teams remain engaged in the ongoing investigation.

Tether's strategic involvement signals long-term confidence in Drift's relaunch. The partnership underscores how major stablecoin issuers are increasingly acting as first responders in DeFi crises.

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