Drift Protocol Secures $147.5 Million Recovery Package After April 1 Exploit

TLDR: Tether will contribute up to $127.5M, including a $100M revenue-linked credit line, to fund Drift’s recovery pool. Drift Protocol will issue a transferable recovery token to affected users, separate from the DRIFT governance token. After relaunch, Drift will settle transactions in USDT instead of USDC, aligning with Tether’s direct involvement. The $147.5M recovery package [...]

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