Drift protocol (DRIFT)

$DRIFT mentions are up 2,387% this week. Creators posting on social hit an all-time high. Price is down 49% in seven days. A six-month social engineering campaign ended in a $285M exploit. https://t.co/L5Yq66IUvm

🚨ICYMI: DRIFT EXPLOIT UPDATE: • @DriftProtocol says the April 1 hack was planned over 6 months • Attackers posed as a legit quant trading firm and met the team at conferences • They built trust, held meetings, and even deposited $1M+ on the platform • Gained access by tricking members into opening a malicious code repo + downloading a fake TestFlight app • Likely used known dev tool vulnerabilities to silently execute code • Probe with Mandiant suggests possible links to North Korea-linked hackers • Protocol is now frozen and attacker wallets have been flagged Lesson: Trust slowly. Verify everything.

The DRIFT hack has less silver lining for Australian users. In the US, they can potentially write it off against their income taxes. Here in Aus, it's only a capital loss. So if you already lost money in FY26? No immediate tax benefit. The losses carry forward so that if you do eventually have capital gains, you can use the losses to offset them. But it's still worth documenting everything about your loss: - acquisition date of stolen funds - cost basis - value at loss - proof it's unrecoverable (hard until recovery plan announced) That way if you have a win later on, you keep more of your gains "tax free".

🚨 Legal Analysis Emerges on $280M Drift Protocol Attack A crypto attorney suggests the $280 million exploit on Drift Protocol could potentially constitute civil negligence, according to Cointelegraph. The attack is attributed to threat actors linked to North Korean state-affiliated hackers.

How Project Founders Can Identify the North Korean Lazarus Hacker Group The Lazarus Group is currently being pointed to as the culprit behind the recent @DriftProtocol hack. What makes this incident so terrifying is that it wasn't a technical exploit of system vulnerabilities—it was a thoroughly designed and meticulously planned social engineering attack. However, there is one fascinating fact: South Korean projects have almost never fallen victim to social engineering attacks by Lazarus. While a small sample size might be part of it, I believe the real reason is simple: South Koreans can spot North Koreans. For foreigners, distinguishing between a South Korean and a North Korean can be nearly impossible. But for us? We can instantly catch the subtle differences in their tone, appearance, behavior, and how they respond to questions. This is not something AI can detect. "What if they completely fake it, pretending to be foreigners who don't speak a word of Korean?" Even then, we can filter them out with one simple request. Just ask them to say: "Kim Jung-un is a son of a xxxxx" (김정은 개새끼). Since I am not a North Korean Lazarus hacker, I can say it loud and clear: Kim Jung-un is a son of a xxxxx. To all global blockchain projects out there: Hire a South Korean security officer immediately. *Note: Only native South Koreans who actually grew up in South Korea can catch these subtle nuances. This is not a joke. I am attaching an actual documentary broadcasted by South Korean TV network Channel A, demonstrating exactly how to identify a North Korean hacker. https://t.co/Yz762Gbfou