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$280 Million Hack Rocks Drift Platform, Exposing DeFi Risks

A recent $280 million cyberattack on the Drift platform, a major player in decentralized finance, highlights the ongoing fragility of this rapidly growing yet largely unregulated part of the cryptocurrency market. This incident, reported by the Financial Times, underscores the significant risks investors face.

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$280 Million Hack Rocks Drift Platform, Exposing DeFi Risks

Drift, a leading platform for perpetual futures trading on the Solana network, suffered a sophisticated cyberattack last Wednesday. This attack resulted in the theft of approximately $280 million, which is half the value of the assets deposited on the platform.

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