Drift Protocol confirms its Insurance Fund survived the $280M April exploit and will open for withdrawals at relaunch, backed by ~$150M in recovery funds from Tether.

Drift Protocol says its USDC Insurance Fund was not affected during a recent risk incident because the protocol paused before losses hit the safety net.

Drift Protocol confirms its Insurance Fund survived the $280M April exploit and will open for withdrawals at relaunch, backed by ~$150M in recovery funds from Tether.