Solana DeFi TVL Recovers Above $6.5B Following Drift Protocol Hack

Key Facts

Solana's DeFi Total Value Locked (TVL) recovered to over $6.5 billion, effectively rebounding from a major security breach. Crypto Briefing reported that the recovery follows a hack on the Drift protocol on April 1, 2026, which resulted in the loss of $285 million, representing approximately half of the protocol's locked value at the time.

The rebound is attributed to the resilience of the Solana ecosystem and the implementation of security reforms, including the rebranding of the protocol to Velocity DEX. Recovery efforts were bolstered by a $127.5 million commitment from Tether toward a recovery pool, alongside additional partner contributions, which helped restore investor confidence and liquidity levels.