The post Drift Protocol Exploit Impact Spreads to 20 Solana Projects appeared first on Coinpedia Fintech News
What began as a single protocol exploit is now affecting the entire Solana network. Drift Protocol, which lost $285 million in the attack, is no longer only Drift’s problem. New data from SolanaFloor shows 20 protocols are now exposed, with losses continuing to grow.
Here’s how the Drift Protocol exploit impacts the other Solana protocol.
Drift Exploit Hit 20 Solana Protocols
According to the latest Drift Exposure Tracker update, the number of Solana-based protocols confirming direct exposure to the Drift exploit has jumped from 11 to 20 in a short span of time. What was already one of the biggest DeFi hacks is now revealing just how deeply connected and how fragile the Solana ecosystem truly is.
Among the newly confirmed victims are PiggyBank, Perena, Vectis, Valeo, Amp Pay, Loopscale, Prime Numbers Fi, Gauntlet, and Exponent.
Each of these projects has now come forward acknowledging its exposure, with varying levels of damage.
Of all the newly confirmed protocols, Prime Numbers Fi is facing the most severe losses. With over $10 million currently under assessment, the project has announced it is still monitoring the full extent of the damage and has made no announcement of action yet.
How Each Protocol Was Affected
Here is what the confirmed data shows across some of the most notable affected protocols;
Reflect Money lost around $1.95 million and stopped USDC and USDT minting and withdrawals for safety.
Ranger Finance lost about $959K and paused deposits and withdrawals.
Neutral Trade was hit the most, losing about $3.67 million, and asked users to withdraw funds from some vaults.
Elemental DeFi also had $2.9 million in exposure and paused some funds linked to Drift.
Gauntlet confirmed $6.4M in exposure tied to deprecated strategies on Drift vaults.
Pyra, PiggyBank Loopscale, Valeo, and Exponent also paused some services or vaults to prevent further losses and protect users’ funds.
True Reason Why This Affected Many Protocols
The core reason so many protocols got caught is that Drift deeply rooted itself in the Solana DeFi stack. Many projects used Drift vaults as yield-generating layers for their own savings, lending, or staking products. The Drift exploit caused all of them to suffer losses.
This kind of risk exists in all DeFi. When one protocol fails, it can create a chain reaction that quickly spreads before anyone can react.
Teams acted quickly to limit further risks, even though the exploit cost around $285 million. The Drift team is now working with security experts, exchanges, bridges, and authorities to track and possibly freeze the stolen funds.