POPA ReconTether Steps In With $150M to Rescue Drift After $285M Exploit
Tether Steps In With $150M to Rescue Drift After $285M Exploit On April 1, Drift Protocol was exploited for approximately $285M in user losses. Two weeks later, Tether announced it's leading the recovery. The plan: up to $150M in combined support, with Tether contributing up to $127.5M. Recovery is tied to platform revenue - as Drift resumes trading, exchange fees go directly toward restoring user balances. Capital is introduced progressively, linked to actual activity, not just upfront capital. As part of the relaunch, Drift is switching its settlement asset from USDC to USDT. 🔗 tether.i…
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