Exchange record
Drift Protocol
Solana-based decentralized perpetuals and trading protocol that entered a critical limited state after the April 2026 exploit and officially rebranded to Velocity on July 1, 2026 while the rebuilt successor platform remained in private-beta preparation.
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Summary
Solana-based decentralized perpetuals and trading protocol that entered a critical limited state after the April 2026 exploit and officially rebranded to Velocity on July 1, 2026 while the rebuilt successor platform remained in private-beta preparation.
Timeline
Drift Protocol confirmed an active attack on April 1, 2026; public estimates ranged from over $130 million to about $285 million, with later analysis describing privileged-access and fake-token collateral mechanisms.
After confirming the active attack, Drift suspended deposits and withdrawals while coordinating containment with security firms, bridges, and exchanges.
Drift's official account announced that the Solana perpetuals platform was rebranding to Velocity. The team said a private beta for selected partners and traders would follow in the coming days, without announcing a public relaunch date.