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Drift proposes recovery tokens after $295m April hack
The plan would funnel Drift revenue into a recovery pool, and at 2025 revenue levels it could take nearly eight years to reach $295 million.
DeFi exchange Drift has proposed a recovery plan after a $295 million hack in April that forced it to suspend trading and other activity, according to DL News. Under the proposal, Drift users would receive “recovery tokens” that represent a proportional claim on a “recovery pool.” The pool would be filled gradually using Drift protocol revenue, alongside crypto commitments from Tether and other organizations that offered help after the breach. The recovery structure is expected to be voted on by Drift tokenholders. If approved, the update suggests victims could face a multi year wait to fully break even. DL News reports that the April 1 attackers tricked Drift administrators into approving bogus transactions, and blockchain analysts have said North Korea was likely behind the hack. Drift reported $19 million in revenue in 2025, which DL News notes could translate into nearly eight years to build the recovery pool up to the full $295 million, assuming partner contributions proceed as expected.