Cerco

Proud to announce Polymarket's market integrity infrastructure flagged another trader who was arrested this morning in New York for insider trading. With 2 out of 2 arrests in this industry resulting from our criminal referrals, Polymarket has emerged as the enforcement leader. Blockchain trading is transparent, traceable, and bad actors leave footprints

INTRODUCING: Ejector Seat A new class of onchain risk protection. The first in DeFi that pulls capital from a venue before it breaks. Utilization spikes. Admin changes. Collateral swaps. The signals that precede any major exploit no longer go unanswered. For the DeFi pilots.

good news: you might get some of your money back bad news: if you want more/all back you need to hope on drift's success and revenue this will take a while... see you in a few years

Drift published their recovery plan today, and we wanted to move quickly to give USDC+ beta holders clarity on what it means from the Reflect side. If you held USDC+ at the time of the April 1 exploit, the most important thing to understand is that your path to claiming looks different from a direct Drift depositor. USDC+ holders don't have individual Drift accounts in their snapshot. Reflect's vaults were the depositing addresses, which means when Drift issues recovery tokens, they are allocated to Reflect first and need to flow downstream to the people who actually held the position. We anticipated this early, and we've had a claims portal designed and ready to bridge that gap, so that USDC+ holders can redeem for the Drift recovery token through Reflect without ever needing to interact with Drift directly. When their claim window opens, targeted for Q2 2026, we plan to be live as early as possible so there are no unnecessary delays on our end. USDC+ is how you access your claim, with the portal mapping your holdings to a proportional share of recovery tokens based on the snapshot taken at protocol pause on April 1. We are in regular contact with the Drift team and actively engaging on the governance decisions ahead that affect downstream protocols. Since April 1, this team has been focused on one thing: making sure that when the recovery path opens, every affected USDC+ beta user has a clear, fast, and informed route to their claim. We believe that ecosystem collaboration matters most in moments like this, and our priority is achieving the strongest possible outcome for the people affected. That means more than just passing through a recovery token. We expect to share more on what that looks like in the coming weeks, and we want to thank everyone who has been patient with us while we've worked through this. It has not gone unnoticed. The full details of how Drift's recovery token works, how the recovery pool is funded over time, and what the trade-offs around early versus later redemption look like are all covered in their post. We'd encourage reading it carefully. Link below.