De-fi platform Drift halts operations after massive hack

Decentralized finance platform Drift has suspended all deposits and withdrawals following a significant security breach. The company confirmed an active attack, with security researchers estimating losses between $136 million and $285 million. If confirmed, this incident would represent the largest crypto theft of the year. The identity of the attackers remains unknown, and Drift has not yet provided further details on the ongoing investigation or recovery efforts. This event highlights ongoing vulnerabilities within the decentralized finance sector and the persistent threat of large-scale crypto heists.