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Drift proposes recovery tokens after $295 million April hack

The recovery pool would be funded by Drift revenue plus partner commitments, but one scenario cited suggests it could take nearly eight years to reach $295 million.

Reported · Written up by our desk · Market Structure

Drift, a Solana-based derivatives exchange, has proposed a recovery plan after an April hack in which attackers stole $295 million, forcing the platform to suspend trading and other activity, DL News reports.

Under the proposal, users would receive “recovery tokens” tied to their proportional losses, representing claims on a “recovery pool” that would be gradually topped up through protocol revenue.

The plan also depends on approval from Drift tokenholders, and it relies on a “slimmed-down business model,” with various elements subject to consent, according to Drift’s update posted on its website, as summarized by DL News.

DL News notes that Drift earned $19 million in revenue in 2025, and that at that pace it could take nearly eight years for the recovery pool to grow to $295 million, assuming Tether and other organizations honor an indicated combined $147 million commitment.

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