The post Drift Protocol Suffers $280M Exploit appeared first on Coinpedia Fintech News
Drift Protocol shared that about $280 million was drained in a highly organized attack, affecting nearly half the funds in an associated wallet. The attacker took advantage of pre-signed durable nonce transactions, allowing them to delay execution and act at a strategic moment. By reportedly misleading several multisig signers through targeted social engineering, the attacker was able to gain control of important administrative privileges. The team confirmed the breach was not caused by a smart contract bug or compromised seed phrases, but by a carefully executed scheme.