#drift黑客受害者启动索赔
$295 million stolen, compensation window opens six months later: for every $1 lost, get 1 cent back first 🦖
⚡ 有大动静群里说
Drift, a perpetual futures exchange on Solana, was drained of about $295 million on April 1. On October 1, it (now renamed Velocity) finally opened claims and redemptions for its compensation token, DFX. For every $1 of verified losses, users receive 1 DFX, with the total supply fixed at 299,500,810.998 and no more tokens ever to be minted.
Sounds like full compensation? The key is the redemption price. The redemption value of DFX equals the balance of the recovery pool divided by the number of unredeemed DFX. At launch, the pool held only about 3.1 million USDT, against nearly 300 million DFX. That works out to about 0.0104 USDT per token—or roughly 1.04% of the losses. ⚠️
The first day's figures make the point even more clearly. On October 2, users redeemed a total of 216,480 DFX, receiving only about 2,250 USDT in return. Meanwhile, just about 31 USDT flowed into the pool from protocol revenue that day. In other words, almost all of the first day's compensation came from the pool's existing funds, not newly earned money. 💥
Where will the money come from? The official sources include contributions from Velocity's daily net protocol revenue, up to 127.5 million USDT in support from Tether, up to 20 million USDT from strategic partners, and any stolen funds recovered in the future. Note that these are amounts that “may come in,” not funds that have “already arrived.”
There's another detail that's easy to miss. DFX is a standard SPL token on Solana and can be freely traded on Raydium. DFX used for redemption will be permanently burned and will no longer be entitled to a share of the pool going forward. The claim window is open until midnight on January 1, 2028; any unclaimed tokens will be burned after the deadline.
Put simply: this isn't quite “compensation.” It's more like packaging the losses into a tradable claim. Victims who don't want to wait can sell their DFX now and cut some of their losses early. Buyers, meanwhile, are betting on how much Velocity can earn in the future and whether Tether's money will actually arrive. What's really being repriced is the previously unquantified “compensation credibility” of on-chain protocols. 📉
The 1.04% figure looks grim, but it's just the starting point, not the end of the story. Still, judging by the 31 USDT in protocol revenue on day one, it may be a long road before this pool reaches a meaningful recovery rate.
Let's talk in the comments: if you received this kind of tradable compensation token, would you sell it immediately or hold on and wait for the pool to grow? 💬
Tap the profile picture to watch the livestream
Every day, we bring you the latest in DeFi and hacker compensation—not just what happened, but the logic and opportunities behind it 👀🚀
$295 million stolen, compensation window opens six months later: for every $1 lost, get 1 cent back first 🦖
⚡ 有大动静群里说
Drift, a perpetual futures exchange on Solana, was drained of about $295 million on April 1. On October 1, it (now renamed Velocity) finally opened claims and redemptions for its compensation token, DFX. For every $1 of verified losses, users receive 1 DFX, with the total supply fixed at 299,500,810.998 and no more tokens ever to be minted.
Sounds like full compensation? The key is the redemption price. The redemption value of DFX equals the balance of the recovery pool divided by the number of unredeemed DFX. At launch, the pool held only about 3.1 million USDT, against nearly 300 million DFX. That works out to about 0.0104 USDT per token—or roughly 1.04% of the losses. ⚠️
The first day's figures make the point even more clearly. On October 2, users redeemed a total of 216,480 DFX, receiving only about 2,250 USDT in return. Meanwhile, just about 31 USDT flowed into the pool from protocol revenue that day. In other words, almost all of the first day's compensation came from the pool's existing funds, not newly earned money. 💥
Where will the money come from? The official sources include contributions from Velocity's daily net protocol revenue, up to 127.5 million USDT in support from Tether, up to 20 million USDT from strategic partners, and any stolen funds recovered in the future. Note that these are amounts that “may come in,” not funds that have “already arrived.”
There's another detail that's easy to miss. DFX is a standard SPL token on Solana and can be freely traded on Raydium. DFX used for redemption will be permanently burned and will no longer be entitled to a share of the pool going forward. The claim window is open until midnight on January 1, 2028; any unclaimed tokens will be burned after the deadline.
Put simply: this isn't quite “compensation.” It's more like packaging the losses into a tradable claim. Victims who don't want to wait can sell their DFX now and cut some of their losses early. Buyers, meanwhile, are betting on how much Velocity can earn in the future and whether Tether's money will actually arrive. What's really being repriced is the previously unquantified “compensation credibility” of on-chain protocols. 📉
The 1.04% figure looks grim, but it's just the starting point, not the end of the story. Still, judging by the 31 USDT in protocol revenue on day one, it may be a long road before this pool reaches a meaningful recovery rate.
Let's talk in the comments: if you received this kind of tradable compensation token, would you sell it immediately or hold on and wait for the pool to grow? 💬
Tap the profile picture to watch the livestream
Every day, we bring you the latest in DeFi and hacker compensation—not just what happened, but the logic and opportunities behind it 👀🚀
