Solana Perps Exchange Drift Opens Recovery Token Claims for Users Who Lost Over $290 Million

The Drift Foundation opened claims and redemptions on Thursday for DFX, a Solana token issued to users of the perpetuals exchange who lost funds in its April 1 exploit. Every USDT of verified loss entitles a wallet to one DFX.

Cashing in today returns about 0.0104 USDT per token, according to Drift, or roughly a cent for each dollar lost. That rate is the balance of a Recovery Pool, about 3.1 million USDT at launch, divided by the DFX outstanding, and it rises as new money lands in the pool.

Supply is fixed at about 299.5 million DFX. In a Sept. 30 update, the foundation put the amount taken from users at over $290 million and said forensic firm Mandiant had identified the attacker as a North Korean group.

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The main recurring source is the rebuilt exchange, which rebranded as Velocity in July. At midnight UTC each day, Velocity sends part of its net protocol revenue to the pool, and the share climbs as revenue grows: 60% up to 30,000 USDT, 70% for the next 70,000 USDT, and 90% of each USDT beyond 100,000. The deposits stop once the pool has collected the full verified loss total.

Drift also listed commitments of up to 127.5 million USDT from Tether and up to 20 million USDT from strategic partners, part of the support package it lined up in April. Any recovered stolen funds also go to the pool, and the foundation said about $9.2 million has been frozen so far.

As of Friday morning, Drift’s recovery dashboard showed the pool’s balance came almost entirely from a one-time deposit of the protocol’s remaining assets.

Users have to claim from the same wallet that owned their Drift account on the day of the April 1 exploit. After that, DFX can be redeemed from any wallet, traded on venues such as Raydium, or held. Each redemption burns the tokens and pays USDT in a single, final transaction.

In Drift’s example, if 10% of supply is redeemed, each remaining token gets about 11% more of every future deposit. Claims close at midnight UTC on Jan. 1, 2028, and unclaimed DFX will be burned.

“These figures illustrate the mechanics. They are not a projection or a promise,” Drift wrote.

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