Victims of the Drift hack on Solana have started the claims process, with the initial recovery pool linked to nearly $295.4 million in verified losses standing at about $3.11 million, according to ChainCatcher.
Claimants can redeem DFX tokens for USDT. Based on the calculation at launch, each $1 of loss was worth about 1.04 cents in redemption value, which works out to roughly $10.4 for every $1,000 lost.
DFX redemption terms and claims rules
DFX has a fixed total supply of 299,500,810.998 tokens. Each token corresponds to 1 USDT of verified loss from the April incident, and no additional tokens will be issued.
Holders can choose to burn DFX in exchange for USDT, sell the tokens on secondary markets such as Raydium, or keep holding them for future claims. Completed redemptions cannot be reversed. Any unclaimed tokens will become invalid after the claims window closes on Jan. 1, 2028.
Where future recovery funds may come from
Future funding for the recovery pool includes part of the daily net protocol revenue from Velocity, the rebuilt and renamed exchange that followed Drift, up to 127.5 million USDT pledged by Tether, 20 million USDT pledged by strategic partners, and any stolen assets that are recovered.
Early figures after claims opened
By the first Friday after claims opened, about 216,480 DFX had been redeemed for roughly 2,250 USDT, while Velocity made its first revenue transfer of 31 USDT.
On-chain assets tied to the case include about 13,025.9 ETH spread across four Ethereum wallets. Another roughly 2,309.4 ETH passed through Tornado Cash, and about $9.2 million in assets has been frozen at other addresses.
