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Last week’s massive exploit of Solana-based perpetuals exchange Drift is still sending shockwaves throughout the crypto industry.
The April 1 attack appears to have been a months-long social engineering and infiltration campaign, likely involving fake counterparties, compromised contributor devices, and frozen protocol functions.
But beyond the sophistication of the attack, many within the crypto industry were also taken aback by the complete absence of intervention from USDC issuer Circle to limit downstream damage.
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