Drift Protocol Hack: $285M Stolen Funds Transferred After Months of Dormancy

In April 2026 the Drift Protocol suffered a social-engineering-driven theft of roughly $285M; on July 25, 2026 a wallet labeled 'Drift Exploiter 4' moved significant portions of the loot (including ~23,095.1 ETH ~ $44.4M) into Tornado Cash and smaller amounts to Bybit. Blockchain firm PeckShield reported the transfers, investigators note laundering patterns consistent with North Korean state actors, and the incident reduced Drift's total value locked by over 50%, with concern about further cash-out attempts after four months of dormancy.