Drift unveils recovery plan for $295M hack

Drift (DRIFT), which suffered a hack of approximately $295 million last month, has unveiled its recovery plan. In a post on X, the project announced it will issue recovery tokens to affected wallets proportional to their losses, airdropping one token for every dollar lost. The current compensation pool stands at around $3.8 million, with plans to expand it through exchange revenue, investments, and matching support from Tether. Redemptions will be enabled once the pool surpasses $5 million, though early redemption will forfeit any further claims. The exchange is scheduled to relaunch in the second quarter of this year.