Drift Protocol Hacker Turns Stolen Millions Into Leveraged Trades 🚨📊
On 1 April 2026, popular crypto trading platform Drift Protocol lost about $285M in one of the biggest thefts in crypto history.
The attackers did not break the computer code directly. Instead, they used social engineering, spending months acting like friendly business partners to fool platform leaders into pre-signing administrative approvals. They then introduced a worthless fake coin and drained $285M in real customer funds.
For months, the stolen funds were moved through privacy mixers like Tornado Cash to hide where the money came from.
Now, on-chain researcher Onchain Lens revealed that the exploiter is doing something completely different.
The hacker moved funds out of mixers, exchanged them for USDC to trade on Hyperliquid, and opened a massive $26M position using 20x leverage:
🔹 $13M bet on $BTC, hoping its price goes up
🔸 $13M bet on $ETH, hoping its price goes down
Isn't it crazy that hackers are now trading with stolen money? If the market moves in their favor, they make more profits from hacked funds. And if they lose the trades, they lose nothing? 👇
#Crypto #DriftProtocol #Hyperliquid #Security
On 1 April 2026, popular crypto trading platform Drift Protocol lost about $285M in one of the biggest thefts in crypto history.
The attackers did not break the computer code directly. Instead, they used social engineering, spending months acting like friendly business partners to fool platform leaders into pre-signing administrative approvals. They then introduced a worthless fake coin and drained $285M in real customer funds.
For months, the stolen funds were moved through privacy mixers like Tornado Cash to hide where the money came from.
Now, on-chain researcher Onchain Lens revealed that the exploiter is doing something completely different.
The hacker moved funds out of mixers, exchanged them for USDC to trade on Hyperliquid, and opened a massive $26M position using 20x leverage:
🔹 $13M bet on $BTC, hoping its price goes up
🔸 $13M bet on $ETH, hoping its price goes down
Isn't it crazy that hackers are now trading with stolen money? If the market moves in their favor, they make more profits from hacked funds. And if they lose the trades, they lose nothing? 👇
#Crypto #DriftProtocol #Hyperliquid #Security
