Chaos Labs' Omer Goldberg unpacks the $285 million Drift Protocol exploit. Did the perp DEX fail to implement best practices?
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Solana's biggest perp DEX Drift Protocol was exploited for $285 million on April Fool's Day in a compromise observers have described as “methodical” and “chilling.”
Chaos Labs founder Omer Goldberg unpacks how the exploit, which is among the 10 largest in DeFi history, went down, including how hackers leveraged a Solana feature to lie in wait without triggering alarms and how the attack bore some resemblance to the Mango DAO and Resolv exploits.
He also weighs in on criticism against Circle for its slow response and whether the exploit has the markings of a North Korean state sponsored attack.
In Omer's telling, the loss could have been avoided.
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