DRIFT fluctuated by 60.7% in 24 hours: Market turmoil triggered by post-hack incident report and accusations of North Korean hackers

Volatility Brief

In the past 24 hours, DRIFT rebounded from a low of $0.0387 to a high of $0.0622 and is currently trading at $0.0537, registering an intraday volatility of 60.7%. The 24-hour trading volume is approximately $12.36 million, an increase compared to the previous day.

Brief Analysis of the Cause of the Unusual Movement

- Drift Protocol released a detailed postmortem report in the past 24 hours, confirming that the $285 million hack on April 1 was the result of a targeted operation by North Korean intelligence over six months. The attacker quickly drained funds using fake tokens and a persistent nonce feature.

- Multiple media outlets followed up with reports that North Korean hackers stole $285 million within 12 minutes, revealing that some of the stolen funds were subsequently transferred to exchanges, amplifying market panic.

- Crypto lawyers and experts criticized Drift's lack of security measures as the root cause of the incident, rather than a code bug.

Market Opinion and Outlook

Market sentiment is mainly driven by panic, with DRIFT tokens dipping multiple times towards the $0.03 range in the past 24 hours. Community discussions are focused on ongoing risks from the hacker and the trust crisis within the Solana ecosystem. Mainstream analysts warn of further short-term pressure, recommending risk aversion until an official compensation plan becomes clear.