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Victims of the Drift hacking incident initiated redemptions, and the $3.11 million recovery pool could only redeem about 1 cent/USD.

Odaily Planet Daily News Victims of the Drift hacking incident on the Solana on-chain perpetual contract exchange launched a claim on October 1. The initial funds of the recovery pool corresponding to the verified losses of nearly US$295.4 million were approximately US$3.11 million. Victims can exchange DFX tokens for USDT, which is equivalent to approximately 1.04 cents for every US$1 lost at launch, and a loss of US$1,000 corresponds to approximately US$10.40.

The total supply of DFX is fixed at 299,500,810.998 pieces, each piece corresponding to 1 USDT that has been verified to be lost in the April incident, and there will be no additional issuance. Holders can choose to destroy DFX in exchange for USDT, sell in secondary markets such as Raydium, or continue to hold claims; completed exchange operations are irreversible, and unclaimed tokens will become invalid after the claim window closes on January 1, 2028.

Subsequent funds for the recovery pool include part of the daily net protocol revenue of Drift’s rebuilt and renamed exchange Velocity, up to 127.5 million USDT committed by Tether, 20 million USDT committed by strategic partners, and recovered stolen assets. On the first Friday after the claim was opened, approximately 216,480 DFX were exchanged for approximately 2,250 USDT, and Velocity’s first income was transferred to 31 USDT; approximately 13,025,900 ETH were distributed in 4 Ethereum wallets, and approximately 2,309.4 ETH passed through Tornado Cash. Approximately $9.2 million in assets have been frozen in other addresses. (Bitcoin.com News)

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