Tag: Private Key Exploit
Drift Protocol Suffers $285 Million Exploit on April 1 in the Largest DeFi Hack in Solana History — Amplify Vault's Recursive Leverage Flaw Drained in Under One Hour, TVL Drops 50%, and $42 Million in ETH Is Already on Ethereum as Solana's Leading Perpetuals DEX Faces an Existential Recovery Test
On April 1, 2026 at approximately 4:00 PM UTC, Drift Protocol — Solana's leading perpetuals DEX with $550M TVL — was exploited for $285 million in the largest DeFi hack in Solana history and the largest crypto theft of 2026. Lookonchain first flagged the attack (wallet HkGz4K). PeckShield confirmed $285M stolen. Arkham Intelligence confirmed $250M+ transferred. Root cause: Amplify vault recursive leverage logic flaw. Entire extraction completed in ~1 hour. TVL dropped 50% instantly. Attacker bridged funds to Ethereum, held 19,913 ETH (~$42M) by 17:45 UTC. 282 BTC also taken. Jupiter DEX aggregator used to swap. Funds routed through ChainFlip. Test transaction identified one week prior. Protocol lacked CertiK audit. DeFi Dev Corp. (Nasdaq: DFDV) and Forward Industries confirmed no exposure.
Resolv Protocol's $25M AWS Key Compromise: How a $100K USDC Deposit Generated 80 Million Unbacked USR, Crashed the Stablecoin 95%, and Delivered DeFi's Clearest Warning Yet About Off-Chain Admin Key Security
On March 22, 2026, an attacker compromised Resolv Labs' SERVICE_ROLE private key — stored on Amazon Web Services — and used it to mint 80 million unbacked USR tokens using $100K–$200K in USDC. USR crashed 95.2% from $1.00 to $0.04751. The attacker extracted ~$23–$25M in ETH (9,100–11,409 ETH). Resolv had $500M+ TVL pre-hack. The SERVICE_ROLE was controlled by a single EOA with no multisig. The minting contract had no oracle checks, no amount validation, and no maximum mint cap. Resolv Labs paused all protocol functions and burned ~9M USR. Aave and Euler confirmed no exposure. Root cause: compromised AWS off-chain signer, not smart contract code.