Overview
- Drift, which detailed the plan Tuesday, will issue $1 recovery tokens to verified victims and seed a repayment pool with about $3.8 million.
- Tether has pledged up to $127.5 million and other partners up to $20 million, with future exchange revenue also flowing into a pool that targets the full $295.4 million in losses.
- Users can start redeeming once the pool tops $5 million, though early redemptions give up future claims on additional recoveries.
- Investigators are tracking about 130,259 ETH across four wallets, with Circle freezing $3.36 million in USDC and Wormhole delaying two transfers until late July.
- Drift targets a Q2 relaunch with a fresh program, rotated keys, timelocks, and removal of the durable‑nonce feature tied to the exploit, subject to governance approval.