Drift Foundation said DFX claims and redemptions are now live for users whose losses in the April 1 incident have been verified. Eligible users can receive 1 DFX for every 1 USDT of confirmed loss. Each DFX represents a claim on the Recovery Pool, which currently holds about 3.11 million USDT. The pool is funded by a portion of Velocity’s daily protocol net revenue, matching support from Tether of up to 127.5 million USDT, up to 20 million USDT from strategic partners, and any assets recovered later. DFX can be redeemed for USDT based on the formula of Recovery Pool balance divided by outstanding DFX supply. Redeemed DFX will be burned, and the transaction cannot be reversed. The claim window will close at 00:00 UTC on Jan. 1, 2028, and any unclaimed DFX will be burned at that time. A day earlier, the foundation said about $295 million in user assets had been stolen in the April 1 security incident and that it had hired Mandiant, zeroShadow, and SEAL 911 for investigation and fund tracing. Mandiant identified the attacker as North Korean threat group UNC6862.
According to Drift Foundation, DFX claims and redemptions are now live.
Users with verified losses from the April 1 incident can claim 1 DFX for every 1 USDT lost. Each DFX represents a claim on the Recovery Pool, which currently holds about 3.11 million USDT.
Recovery Pool funding sources
The Recovery Pool is funded by:
- a portion of Velocity’s daily protocol net revenue
- matching support from Tether of up to 127.5 million USDT
- up to 20 million USDT from strategic partners
- assets recovered later
Redemption terms and deadline
DFX can be redeemed for USDT based on the formula: Recovery Pool balance divided by outstanding DFX supply. Redeemed DFX will be burned, and the transaction cannot be reversed.
The claim window will close at 00:00 UTC on Jan. 1, 2028. Any unclaimed DFX will be burned at that time.
Update on the April 1 security incident
A day earlier, Drift Foundation released an update on fund recovery tied to the April 1 security incident, saying about $295 million in user assets had been stolen. The foundation said it had hired Mandiant, zeroShadow, and SEAL 911 to investigate and trace the funds. Mandiant identified the attacker as North Korean threat group UNC6862.
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