While the funds won’t cover the full amount that Drift lost in the hack, the money will provide additional stability as the exchange has said it will also begin contributing its own revenue in a bid to make users whole.
As part of the scheme, the hackers converted their stolen funds, which represented numerous cryptocurrencies, into USDC before whisking the tokens off the Solana blockchain.
Following the breach, many Drift customers have been pointing their fingers at Circle, claiming the firm saw the hack taking place but failed to freeze the USDC, which could have prevented the hackers from making off with the stolen funds.
“The best way to reward [Tether’s] behavior and punish [Circle’s] behavior is to swap,” Scannella said in a text. “If we want to see more of this…we as users need to actually act. It’s sorta like voting.”
