@0xNIC0 @reflectmoney Summary
① We have provided straws. We will not provide any money.
② We will not compensate users for any losses related to USDC+.
③ It’s all Drift’s fault. Our company, which provided USDC+, is not at fault.
English
ene
43 posts
Hey,
We're now in the testing phase of the run up to @reflectmoney relaunch, this pre-amble involves a voluntary alternative pathway for those affected by the Drift incident, specifically those holding USDC+.
This comes first, then next-gen stablecoin infrastructure.
English
@reflectmoney Summary
① We have provided straws. We will not provide any money.
② We will not compensate users for any losses related to USDC+.
③ It’s all Drift’s fault. We are not at fault.
English
We’ve been aware of this and positioned for it ahead of the announcement.
Beta-USDC+ Users: you won’t see a DFX allocation when you connect to Drift’s checker, that’s expected. The Reflect program holds the position, so the allocation sits at the program level rather than in your wallet.
This allocation will be made viewable through the Reflect claims portal. There you’ll find your affected balance(s) and eventually be able to claim them through either the native Drift recovery pathway or an upcoming independent option. We’ll share more on that option as soon as possible.
Velocity@VelocityDEX
The Recovery Token and Insurance Fund Claim Checker is now live. Affected users can now connect their wallet to view their Recovery Token allocation and Insurance Fund claim eligibility.
English
@0xNIC0 most important thing is to ensure that users who have suffered losses due to your company’s operational failures can be fully reimbursed with USDC+ collateral as soon as possible.
We hope that “third-party integration” is not merely a “means of accessing Drift's debt tokens.”
English
GM,
While I am absolutely excited to get on with relaunch since we have now one of the best infra suites for yield/risk 💪
I want to update those waiting for beta USDC+ info: some changes came up regarding third party integrations that required some further legal and technical changes before we could go forward. We’re now crunching to have these reviewed as soon as possible.
I want to thank everyone for their patience and understanding, these things take time to get right and that is super important to myself.
🤝
English
ene รีทวีตแล้ว
It’s been 2 months since I lost $10k in the $280M Drift hack, like many others
I understand the team wants to make it right, but refund tied to the relaunch success doesn’t inspire confidence
Full repayment would require years of strong revenue post-relaunch, which I don’t believe will happen
Also why lock untouched funds in the recovery pool without permission?
Given this, I doubt the promised Q2 relaunch will actually happen, completely unclear what and when anything will occur
Velocity@VelocityDEX
Today we are sharing an update on Drift recovery and relaunch drift.trade/updates/drift-…
English
@0xNIC0 @SuperteamUK Summary: Information regarding compensation for USDC+ users, which is the responsibility of reflect. This does not exist.
English
Proud to support @SuperteamUK as they put together important responses to FCA regulators 🇬🇧
DeFi builders require clear frameworks for legal non-custodial finance so they can serve British customers safely ✨
Superteam UK@SuperteamUK
The future of DeFi in the UK shouldn't be decided without the people building it. Today, we submit our response to the FCA's perimeter consultation. Backed by 20+ founders, all pushing for rules that can give DeFi a home here. We fight for the progress we need. 🦾🇬🇧
English
@0xNIC0 After Drift was hacked, it wasn’t the users who were in the ejection seats—it was you guys.
The users on board the plane all crashed along with Drift.
And you guys, who were in the seats, came out unscathed.
Does this mean we’ll get to see lots more of these “many great things”?
English
This one is for you the DeFi pilots, those who take the risk of being the first users.
This past month has been intense, a real eye opening moment for the industry and one that required entirely new advancements from DeFi teams.
This is one of many great things to come.
🛩️✨
Reflect@reflectmoney
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.
English
@reflectmoney It’s like a broken tape recorder.
You kept repeating the same thing—“reflect is safe”—right up until March 2026.
As a result, users who used USDC+ lost all their assets.
Overnight.
Your toy promotions aren’t worth listening to.
Don’t forget about USDC+.
Refund the $1.9 million.
English
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.
English
@0xNIC0 @reflectmoney @BlockworksAdv @solana Don’t forget about USDC+.
Don’t forget about USDC+, which lost $1.9 million in user funds due to your operational failure.
When your “new toy” breaks again, are you going to shift all the losses and responsibility onto the users once more?
Give us our money back!
English
@reflectmoney @BlockworksAdv @solana Today we take a huge step towards fully SEC compliant, non custodial allocation systems that have a deeper context for the risk that isn't typically quantified in DeFi.
Super excited to have an amazing team of partners, more from us soon!
🤝
English
1/ BREAKING: Reflect is partnering with @BlockworksAdv.
The team setting the standard for institutional risk analysis and capital allocation across crypto is bringing that work to @solana for the first time.
Reflect is the protocol making it happen.
English
@reflectmoney @BlockworksAdv @solana Give me my money back.
Don’t forget about USDC+.
The USDC+ project you launched resulted in the loss of all $1.9 million due to a hack caused by your operational failure.
Yet you bore no responsibility or risk for this loss.
You shifted all the risk onto the users.
English
@reflectmoney So, before we even got our assets back, you went and made another new toy.
And if this new system causes more damage, who’s going to take the blame?
That’s right—the users.
The developers won’t take any responsibility.
They don’t take any risks; they just run away.
English
1/ A new Reflect is here.
Reflect is the agnostic infrastructure layer for stablecoins. Anyone can launch a yieldcoin, back it with the assets they choose, and let independent risk analysis handle routing.
New architecture, new suite, new look. Let's get into it.
English
@reflectmoney Are you guys planning to shift the blame for the protocol onto the users again?
Give us our money back!
English
@reflectmoney @SolanaEvents @consensus2026 Does that mean if I go there, I’ll get my money back!?
Let me redeem my USDC+!
English
@reflectmoney You shifted all the responsibility onto Drift.
You shifted all the risk onto the users.
You failed to fulfill any of your own responsibilities and merely created a straw called the “Drift claim pool access portal.”
English
@reflectmoney We have no interest in reading flowery poetry.
What we want is a concrete plan for you to repay the funds as soon as possible.
English
ene รีทวีตแล้ว
We've been quiet for the last few weeks. Sometimes events outside of your control have a way of sharpening your thinking on where a market is heading and what your role in it should be. That clarity deserved our full attention, not a half-formed thread.
The more time our team spends in this space, the more convicted we become that the biggest bottleneck to stablecoin adoption isn't demand. Everyone wants stablecoins. Every company wants to issue one, every protocol wants to offer yield, every fintech wants to integrate them. The bottleneck is that the infrastructure to do all of that properly doesn't exist yet.
What we keep seeing is the same pattern. Teams with real ambition spending months rebuilding the same plumbing: venue risk, monitoring, compliance, issuance. All proprietary, all closed, all built from scratch every single time. Risk frameworks that make sense internally but are completely opaque to anyone outside the team that designed them. And now, regulatory clarity that draws a hard line between custodial and non-custodial, meaning a significant number of products and white-label services need to rethink how they're structured. Not because anyone had bad intentions, but because the tooling to do it on the right side of that line hasn't been available.
This is the problem our team has been focused on solving. Reflect is becoming the agnostic infrastructure layer for stablecoins. One integration that gives teams everything they need to move fast and stay clear: launch a stablecoin backed by any major issuer's asset without years of licensing and bureaucracy, tranche underlying risk into senior and junior positions so first-loss protection takes seconds instead of months, and access the richest stablecoin data in the industry so every position and every venue is visible and verifiable. All non-custodial. All on the right side of the line.
We're not building this to compete with teams issuing stablecoins or running yield strategies. We're building it because those teams deserve infrastructure that lets them focus on what they're actually good at, without inheriting risk they can't see or regulatory exposure they didn't sign up for.
The next few weeks will show what this looks like in practice. We're ready to let the work speak for itself.
English
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.
English
@reflectmoney What happens to the people who had assets in DeFi at that time?
Are you saying we shouldn’t help the people who woke up to find that the USDC they had staked as LP tokens had turned into non-redeemable USDC+?
English
@DriftProtocol @0xNIC0
Drift has issued an announcement.
In other words, as the CEO of reflect, you need to take some kind of action—not just issue an announcement.
Return our funds.
English
Read the full Recovery Plan for Affected Users here:
drift.trade/updates/recove…
English