Drift Protocol said it was investigating the unusual activity on April 1 and urged users not to make deposits, according to a post on X.
Drift Protocol is experiencing a problem. Deposits and withdrawals are suspended. We are contacting several security companies, bridges, and exchanges to find out what happened. This is not an April Fools joke. We will provide you updates from this account as… https://t.co/03SRPq4fHj
– Drift (@DriftProtocol) April 1, 2026
In other developments, the Solana-based trading platform said it was facing a threat and had suspended deposits and withdrawals as it contacted security firms, bridges, and exchanges to deal with it.
The protocol did not include a risk in the event in its public statement, but blockchain tracking accounts began to report that it was possible to use nine people.
The Drift Protocol appears to have been breached, with over $270M transferred to HkGz4K’s wallet suspiciously. 🚨
He’s crazy!https://t.co/iWVPzvDDhx pic.twitter.com/AQCa5q4b3M
– Lookonchain (@lookonchain) April 1, 2026
One of the most cited estimates came from Lookonchain, which said that Drift appears to have been fed and that more than $270 million worth of assets were transferred to wallets starting with HkGz4K.
Issues in development.
