Drift loses $280 million as hackers seize Security Council powers

Drift Protocol suffered a planned, sophisticated attack that resulted in the loss of roughly $280–285 million after an attacker leveraged durable nonce accounts and pre-signed transactions to secure 2/5 multisig approvals, take administrative control, introduce a malicious asset, remove withdrawal limits, and drain funds; Drift states no smart contract bugs or seed phrases were compromised, has frozen protocol functions, and is working with security firms, exchanges, and law enforcement to trace and recover assets.