Drift Hacker Incident Victims Initiate Payout, $3.11 Million Recovery Pool Payouts at Approximately $0.01 per Dollar

Victims of the Drift hacker incident on the Solana chain's perpetual contract exchange initiated claims on October 1, verifying losses of nearly $295.4 million, with an initial recovery pool of approximately $3.11 million. Victims can exchange DFX tokens for USDT, calculated at the time of initiation, with each $1 loss redeemable for about $0.0104, meaning a loss of $1,000 corresponds to about $10.40. The total supply of DFX is 299,500,810.998 tokens, each corresponding to 1 USDT of verified losses from the April incident, and there will be no additional issuance. Holders can choose to burn DFX to redeem USDT, sell on the secondary market, or continue holding for claims; completed exchanges are irreversible, and unclaimed tokens will expire after the claims window closes on January 1, 2028. Subsequent funding for the recovery pool includes daily net protocol revenue from the rebranded Drift exchange, now called Velocity, a commitment from Tether for up to 127,500,000 USDT, a commitment of 20,000,000 USDT from strategic partners, and recovered stolen assets. On the first Friday after the claims opened, approximately 216,480 DFX were exchanged for about 2,250 USDT, with the first revenue transfer from Velocity amounting to 31 USDT; approximately 13,025.9 ETH is distributed across four Ethereum wallets, with about 2,309.4 ETH having passed through Tornado Cash, and approximately $9.2 million in assets frozen at other addresses.

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