Drift Suspends Transactions Following Security Incident
Decentralized finance company Drift has announced the suspension of both withdrawals and deposits due to a confirmed security breach.
Active Attack Confirmed by the Platform
The crypto platform disclosed via a post on X that it is currently facing “an active attack” and is working diligently to mitigate the incident.
Potential Losses Could Be Substantial
Initial assessments by cybersecurity experts and public blockchain analytics indicate that the losses may be significant. According to blockchain security firm CertiK, hackers may have orchestrated a theft of approximately $136 million. Meanwhile, crypto analytics firm Arkham has estimated the stolen amount to be around $285 million.
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Possibility of the Largest Crypto Theft This Year
If these figures are confirmed, the hack would mark the largest cryptocurrency theft of 2023, according to the Rekt leaderboard, which tracks incidents of crypto theft based on their magnitude.
Investigation Underway to Identify Perpetrators
As of now, the identity of the attackers remains unknown, and a representative for Drift has not provided immediate comment regarding the situation.
Link to Previous Large-Scale Cryptocurrency Thefts
Security analysts have noted that North Korean hackers were responsible for the majority of crypto thefts last year, amassing over $2 billion in stolen cryptocurrency. The regime is believed to utilize these funds to finance its nuclear weapons program and evade international sanctions that limit its access to the global financial system.