Drift Foundation

We've read your replies. Here are answers to the main questions.

DFX is not pegged to 1 USDT. You receive 1 DFX for every 1 USDT of verified loss, and what you receive when you redeem depends on the Recovery Pool Balance at that time.

The Recovery Pool covers around 1% of total claims today. Redeeming is optional. You can hold DFX and keep your claim on the Recovery Pool as deposits arrive and supply falls, or trade it on secondary markets like Raydium.

Tether has committed up to 127.5M USDT to support relaunch and user recovery, matched against Velocity's Net Protocol Revenue. It isn't a lump sum that has already been received.

The 1 January 2028 deadline is for claiming. DFX you've already claimed is not burned.

If your claim failed, your allocation is safe. Please retry. Wallet warnings on the site have been resolved.

DFX Claims and Redemptions are now live.

If you had a verified loss from the 1 April incident, you can claim 1 DFX for every 1 USDT lost.

Claim: dfx.drift.trade
How it works: drift.trade/updates/dfx-cl…

The claim window closes at 00:00 UTC on 1 January 2028. Unclaimed DFX will be burned.

Drift Recovery Update

An update on the ~$295.4M taken from Drift users on 1 April, and where recovery efforts stand.

Drift Foundation will continue pursuing efforts to track, trace, and recover stolen funds. Recovered funds, whether they come back through a freeze, bounty, or through law enforcement, shall be directed into the DFX recovery pool.

Mandiant, zeroShadow, and SEAL 911 were brought in to investigate and trace the funds. Mandiant identified the attacker as UNC6862, a North Korean threat group. Since April, zeroShadow has tracked the stolen funds, including the laundering that began in July, and has shared its findings with law enforcement.

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Where the funds are

The stolen funds were bridged to Ethereum, ~130,259 ETH across four wallets. Three of those four wallets have not moved and currently hold 107,165 ETH. On 23 July, one of the wallets sent about 23,094 ETH into Tornado Cash.

Working together with zeroShadow and law enforcement, the Foundation continues to track and flag every withdrawal as it appears, and monitor all wallets around the clock.

Some of those stolen funds have been transferred across multiple blockchains and jurisdictions, making the process of recovering and returning frozen funds complex and time-consuming.

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Frozen funds

About $9.2M of stolen funds has been frozen so far, after the attacker moved them through Tornado Cash in August.

Recovering frozen funds involves law enforcement and is a process that takes time. We are actively working on this and will share updates as soon as there is progress.

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DRIFT token

The Foundation is also evaluating the best path forward for the DRIFT. Foundation's priority remains asset recovery and establishing the token's future pathway within the broader DRIFT ecosystem.

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Bounty Program

In collaboration with Bybit, the Foundation has launched a public bounty program: a 10% bounty on any successfully recovered funds. The program is listed publicly to maximize participation from white hats, security researchers, and the broader ecosystem.

lazarusbounty.com/en/DRIFT

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A word of caution: The Foundation will never message you directly about recovered funds, ask you to connect a wallet, or ask for a fee. Anyone who does this is not from the Drift Foundation. Follow official channels for official updates.

Foundation will share the next update when there is further progress to report.

Vote for DIP-10: Treatment of Remaining Asset in Borrow Lend is currently live.

New Discussion: Treatment of Remaining Assets in Borrow/Lend

The new discussion covers:
• Converting remaining borrow/lend spot assets into USDT for the recovery pool
• Settlement methodology and treatment of user balances post-incident
• Improving transparency, reporting, and governance oversight around implementation and recovery processes

The objective is to support long-term protocol sustainability while improving transparency and governance standards following the April 1, 2026 incident.