Solana
Why Solana is down 1.3% in the last hour
Analysis
Solana (SOL) slipped about 1.3% over the past hour as traders reacted to reports that Solana-based DeFi exchange Drift Protocol was exploited, with estimates ranging from at least $200 million to as much as $285 million stolen. CoinDesk also reported Drift is investigating “suspicious activity” and told users to halt deposits, which likely added to near-term risk-off sentiment around Solana DeFi.
Contributing Factors (3)
Solana DeFi Exchange Drift Protocol Exploited, Upwards of $285 Million Stolen
Solana-based perpetuals DEX Drift Protocol has suffered an exploit impacting more than $200 million in funds.
‘Not an April Fools joke’: Major Solana-based trading platform Drift exploited for at least $200 million
The exploit, which started over two hours ago, seems to be targeting multiple Drift vaults, totaling at least $200 million.
Solana DeFi platform Drift investigates suspicious activity, tells users to halt deposits
The platform halted deposits while it investigates suspicious activity and urges users to proceed with caution.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.