Cosine: Drift migrated multi-signature a week ago, and the new multi-signature only requires 2/5 of the signatures threshold with no time lock.

SmartContractAuditor · 2026-04-02T02:11:04+00:00

Odaily Planet Daily reports that Yu Xian, founder of Slow Fog, posted on X: "Drift Protocol was hacked with over $200 million in assets stolen. A week ago, it migrated to a 2/5 multisig (1 old + 4 new signers) without a timelock. The attacker took over admin privileges a few hours ago, minted CVT counterfeit tokens, manipulated the Oracle, disabled related security mechanisms, and drained the pool's assets..."

SmartContractAuditor

2026-04-02 02:11:04

Odaily Planet Daily, reported that the founder of SlowMist, Yu Xian, said in a post on X: “Drift Protocol was stolen with over $200 million in assets. A week ago, it was migrated to a multi-sig with 2/5 and no timelock (1 old + 4 new signers). The attacker took over the admin privileges a few hours ago, minted fake CVT coins, manipulated the Oracle, disabled the relevant security mechanisms, and walked away with assets of significant value from the pool……”

DRIFT-39.97%

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