Drift Launches Airdrop After $285M Solana Hack, Draws Backlash
Solana-based perpetual futures exchange Drift Protocol is under intense scrutiny after a reported $285 million exploit this week. Drift announced an on-chain airdrop it says is intended to help compensate affected users and shore up liquidity, but details on distribution and timelines remain limited. The protocol has also said teams are cooperating with on-chain investigators and partners to trace stolen funds. The airdrop decision has fueled backlash from users and observers who argue it risks diluting token holders, rewards insiders, or falls short of direct reimbursements for victims. Critics are calling for clearer governance, full transparency on compensation mechanics, and stronger security audits. The incident highlights broader risks for DeFi on Solana and raises questions about how projects should balance quick recovery measures with user trust and regulatory scrutiny.