Drift Protocol said it was investigating unusual activity on April 1 and urged users not to deposit funds, according to a post on X.
Drift Protocol is under active attack. Deposits and withdrawals have been suspended. We are coordinating with several security companies, bridges and exchanges to contain the incident. It’s not an April Fool’s joke. We will provide additional updates from this account as they come…
– Drift (@DriftProtocol) April 1, 2026
In a later update, the Solana-based perpetual platform said it was under active attack and had suspended deposits and withdrawals while coordinating with security companies, bridges and exchanges to contain the incident.
The protocol did not attach a loss figure to the incident in its public statements, but blockchain tracking accounts quickly began describing it as a possible nine-digit exploit.
The Drift Protocol appears to have been exploited, with over $270 million in assets suspiciously transferred to the HkGz4K wallet. 🚨
It’s crazy! pic.twitter.com/AQCa5q4b3M
– Lookonchain (@lookonchain) April 1, 2026
One widely cited estimate came from Lookonchain, which said Drift appeared to have been exploited and that more than $270 million in assets had been moved to a wallet starting with HkGz4K.
Developing story.
