Major cyberattack hits Solana-based derivatives exchange amid booming crypto trading
LONDON — Hackers have stolen approximately $280 million from the reserves of a cryptocurrency trading platform, highlighting growing security risks as digital asset derivatives trading surges, according to a report by the Financial Times.
The platform, Drift, which operates on the Solana ecosystem and is known as one of the largest venues for perpetual futures trading, said it was targeted by a cyberattack on Wednesday.
The stolen funds represent roughly half of the total value of deposits held on the platform in U.S. dollars.
Perpetual futures are derivative contracts without an expiration date, widely used by cryptocurrency traders to speculate on price movements. Trading volumes in these instruments have surged over the past year as activity in digital asset markets intensified.
In a series of posts on X on Thursday, the company described the breach as highly sophisticated.
“This was an extremely complex operation and appears to have involved weeks of preparation and carefully planned execution,” the company said.
Drift added that it was forced to freeze customer funds while it works to contain the impact of the attack and investigate the breach.
The incident underscores the persistent vulnerability of crypto platforms to cyber threats, even as decentralized finance and derivatives markets continue expanding rapidly.
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