Tether Injects $150 Million into Drift Protocol Following $295.7 Million Exploit

Drift Protocol has detailed its platform reboot strategy following a $295 million security exploit executed by North Korean operatives. The recovery is anchored by a $127.5 million commitment from Tether to bolster liquidity and transition to USDT as the primary base currency. Expanding its ecosystem further, Tether has launched a new self-custodial wallet for Bitcoin, USDT, and other tokens, signaling a strategic shift toward consumer-facing payment services. This move aims to compete directly in the consumer crypto payments sector beyond its traditional infrastructure role. Meanwhile, Tether authorized the minting of $1 billion in USDT to meet rising market demand. While the DRIFT token maintains levels above $0.061, the industry remains focused on Tether’s growing influence and the systemic aftermath of the recent exploit.