Drift Protocol Suffers $200M+ Exploit After Multisig Migration

Odaily Planet Daily reported that SlowMist founder Yu Xian said on X that more than $200 million worth of assets were stolen from Drift Protocol. He noted that the protocol's multisig was migrated a week ago to a 2-of-5 configuration without a timelock, involving one existing signer and four new signers. Yu said the attacker later gained control of admin privileges, minted counterfeit CVT tokens, manipulated oracle data, shut off related security mechanisms, and ultimately drained assets from the pool.