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Drift Secures $147.5 Million From Tether, Drops Circle’s USDC After Massive Exploit

· Unchained

Drift Secures $147.5 Million From Tether, Drops Circle’s USDC After Massive Exploit

Tether invests $127.5 million to help Drift recover from a major exploit, and Drift plans to relaunch on Solana. Meanwhile, Circle faces a class action for not freezing stolen USDC during the April 1 exploit. The incident highlights ongoing security issues in DeFi and stablecoin management.

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Drift Secures $147.5 Million From Tether, Drops Circle’s USDC After Massive Exploit — Chainshorts | Chainshorts