Solana-based Drift Protocol hit by security breach; on-chain losses seen above $200M

Drift Protocol, a Solana-native derivatives trading platform, has been hit by a security incident, with on-chain data pointing to losses of at least about $200 million and some estimates approaching $270 million. The team said it has detected abnormal activity and is investigating. Users have been urged not to deposit funds into the protocol until further notice, adding: "This is not an April Fools' joke." The attack appears to have impacted multiple liquidity pools, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking. On-chain records show a transfer of roughly 41.7 million JLP tokens valued at about $155 million, alongside withdrawals of other assets such as SOL, USDC, cbBTC, and wBTC. Market observers say the breach could rank among the largest DeFi exploits since Solana's Wormhole bridge hack.