A security incident involving the Drift protocol has affected 11 decentralized finance (DeFi) platforms, leading some to suspend key functions. Impacted protocols include Reflect Money, Ranger Finance, Neutral Trade, Elemental DeFi, Project 0, Lulo Finance, Asgard Finance, DeFi Carrot, Pyra, xPlace, and Fuse Wallet. Ranger Finance reported a risk exposure of approximately $900,000, about 6% of its $14.6 million total locked value. Pyra has suspended its card functionality due to affected user funds, while Asgard Finance has disabled its credit source linked to Drift and is reaching out to users.
Several platforms have paused operations to mitigate risks. Fuse Wallet halted deposits into Drift for its Earn product, though the wallet remains operational. DeFi Carrot suspended minting and redemption, while xPlace paused deposits and withdrawals for its Savings product. Elemental DeFi, Project 0, and others have paused fund allocations pending Drift's recovery. Lulo Finance warned Classic deposit users of potential impacts, though its Protected and Boosted products are unaffected.
Drift Protocol Vulnerability Impacts 11 DeFi Platforms, Some Suspend Operations
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