Jesse Destructo

@DriftProtocol Seeding with 3.8 million but cant redeem until the pool reaches 5 million... so basically yall keep approx 216 million of customer funds? Plus the insurance funds. How do you expect the fund to get to 5 million when nobody is going to use the platform again? Scam.

We told our community we would find a path to recovery. This is that path. Today’s update covers: how users will be compensated and how the exchange is being rebuilt.

@DriftProtocol So what happened to the remaining 50% of pool funds? Because by my count you lost 280 million on a 500 million pool leaving you with 220 million not equating for the insurance fund pools. So why is the recovery fund only being seeded with 3.8 million? Make it make sense.

The recovery pool is seeded with ~$3.8M in protocol remaining assets, converted to USDT. The pool will continue to grow every quarter through a substantial portion of the exchange's net exchange revenue, additional partner capital, and Tether's matched deployment (up to $127.5M committed)

@Ryanhlx @DriftProtocol @tether You sure its been two weeks and not a peep from tether or drift...

@DriftProtocol @tether Finally those affected will be getting back their money

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery. These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool. Learn more 👇

@TheRabbitHole @SwipeWright Its cute Elon reposted this. You struggling to sleep at night buddy? We hope so.

Luigi Leftism is a serious problem

@narnian_returns @DriftProtocol Bro its been 5 days. They are exploring a Caribbean island with no extradition with whats left of your bags lol

@DriftProtocol At least share what you have tried (and not worked out) and what you're now exploring.

Interim Update We recognize the impact this has had across our users and the builders who have integrated with us - many of whom rely on Drift as core infrastructure. We’re actively working on next steps and will share more once details are finalized.

@CryptoseedJ @DriftProtocol Update to your post: haven't heard from them for 5 days. It appears they have chosen to drift away with whats left of everyones bags.

@DriftProtocol COMPENSATION or DRIFT AWAY into the VOID!

@hugeainn @DriftProtocol @cindyleowtt Yeah... they gone bro.

@DriftProtocol This silence is extremely disappointing. Even more disappointing is @cindyleowtt timeline where she is practically admiring the sophistication of the hack through 3rd party tweets - trying to gloss over the total failure of basic opsec

@LeeTimo1 @DriftProtocol Nah you right bro. 5 days no updates? Admins in the wind with whats left of everyones bags.

@DriftProtocol I'd rather know I'm not getting my money so I an plan for that. They have ghosted us now and cashed out. I think it is safe to assume we are not getting any money back. I just hope people are able to name and shame these people and their details

@darkhai99 @DriftProtocol But its not tradfi bro. Its been 5 days, the admins are probably in the wind at this point with whats left of your bags. Welcome to crypto.

@DriftProtocol should take a lesson from traditional finance — communication with stakeholders should come first

@EnricoPassaniti @DriftProtocol The admins still have half the TVL. After 5 days with no update the most likely outcome is they are filling their bags with whats left and ghosting. Welcome to crypto.

@DriftProtocol Still no answer. Lost all my Solana and no one is updating us.

@jason_kellem @DriftProtocol Of course not dude. Its crypto lol. The admins still have half the TVL, they could easily pay back minor users with less than 100k right now, but they wont. Whats most likely happening is the admins are running off with whats left. That's why no updates.

@DriftProtocol Are we still not allowing withdrawals?

@7RWcrypto @DriftProtocol Don't hold your breath dude. The admins still got half the TVL, they gone at this point its been 5 days. Bybit was back up and running within 48 hours, if the exchange doesnt or cant respond like that its cuz they gonna take whats left and run.

@DriftProtocol ???When can I withdraw it?

@GauravK358 @DriftProtocol They wont be bro.

@DriftProtocol please update on the current status, when my funds will be back....?

@goldenhotplasma @DriftProtocol Nah bro. They filled their bags with your bag and now they in the wind. Welcome to crypto, where even the exchanges will rug you.

@DriftProtocol The silence is deafening. Are we still expecting an update sometimes this week?

@ShadeLif3 @DriftProtocol They didnt hear you.

@DriftProtocol Consistent updates are a step in the right direction. Don't keep us in the dark.

@GauravK358 @DriftProtocol They're gone dude. Its been 5 days. Welcome to crypto, the admins filled their bag with your bag and now they in the wind. @cindyleowtt

@DriftProtocol I have ~$62k stuck in perp collateral on Drift — this is not just numbers, it’s a major part of my capital. I understand investigations take time, but timely updates on recovery structure and withdrawals are extremely important for users like me.🙏🙏🙏

@ruslanpersian @DriftProtocol @cindyleowtt Im with you.

@DriftProtocol I think it is time for affected users to come together and file a class action. Let lawyers deal with this if Drift still cannot find the time to give people a real plan. If they do not want to do this the right way, then it will go the hard way. @cindyleowtt #Drift #DeFi

@DriftProtocol 5 days no update. Guess I was right, yall filled your bags with our bags and now your tuckin tail and running from your users.

@behzadnouri @DriftProtocol Lol yeah the rich fxckwads that made their money from this are going to give it up to make users whole 🤣🤣. Nah they gonna disappear with the money and start a new protocol. Rinse wash repeat. Got to be careful in Defi I guess, contracts aren't the problem its always the staff.

@DriftProtocol Why should the losses be passed on to the users when it was the admins’ signature (not the users’ signature) which enabled the hack? Shouldn’t the admins be on the hook?