#drifthackvictimsbeginclaims
The Drift hack is still making waves.
Back in April, Drift lost nearly $300M in a major exploit. Now the protocol has relaunched as Velocity and has started the process of helping affected users recover their funds.
Claims opened on October 1, but the recovery pool currently has only around $3.1M, so the first payouts are much smaller than what users lost.
The plan is to grow the recovery pool through Velocity’s revenue, recovered funds and support from partners.
So right now, the big question is simple: can Velocity generate enough money to help users recover a meaningful amount of their losses?
I’ll be watching how the recovery plays out from here.
The Drift hack is still making waves.
Back in April, Drift lost nearly $300M in a major exploit. Now the protocol has relaunched as Velocity and has started the process of helping affected users recover their funds.
Claims opened on October 1, but the recovery pool currently has only around $3.1M, so the first payouts are much smaller than what users lost.
The plan is to grow the recovery pool through Velocity’s revenue, recovered funds and support from partners.
So right now, the big question is simple: can Velocity generate enough money to help users recover a meaningful amount of their losses?
I’ll be watching how the recovery plays out from here.