Drift Exploit Linked to Coordinated Infiltration Effort

• Drift hack drained $285M in 12 minutes, but the operation was built over six months.
• Attackers used social engineering and pre-signed multisig approvals for the attack.
• A fake token (CVT) was used as collateral after manipulating oracle pricing with minimal liquidity.

Drift Protocol has released a detailed breakdown of the April 1 exploit that drained $285 million in user funds and confirmed the attack was not a simple bug but a long-term, coordinated operation.

The team said the exploit was the result of months of targeted infiltration, which combined social engineering, technical exploits, and staged on-chain activity.

Six-Month Infiltration Led to Breach

According to Drift Protocol, the attack began as early as Fall 2025. Individuals posing as a quantitative trading firm approached contributors at multiple crypto conferences.

They built credibility over…

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