Drift Foundation Freezes $9.2 Million in Stolen Funds Amid Ongoing Recovery Efforts

The Drift Foundation has reported significant progress in recovering funds stolen during a security breach on April 1, which resulted in the loss of approximately $295.4 million in user assets. The foundation has engaged cybersecurity firms Mandiant, zeroShadow, and SEAL 911 to investigate the incident and track the stolen funds. Mandiant has identified the attackers as the North Korean threat organization known as UNC6862.

Following the theft, the stolen assets were bridged to the Ethereum blockchain, with around 130,259 ETH distributed across four wallets. Notably, three of these wallets have not moved any funds, retaining a total of 107,165 ETH. One wallet, however, transferred approximately 23,094 ETH to Tornado Cash on July 23. The Drift Foundation has successfully frozen about $9.2 million of the stolen funds, which were previously transferred through Tornado Cash in August. The process of unfreezing and returning these funds is still pending legal procedures.

In addition to freezing assets, the Drift Foundation plans to allocate all recovered funds—whether through freezing, bounties, or law enforcement—to the DFX recovery pool. The foundation is also evaluating the future of the DRIFT token within its ecosystem. To enhance recovery efforts, the foundation has partnered with cryptocurrency exchange Bybit to initiate a public bounty program, offering a 10% reward for any successfully recovered funds.

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Source: KLEA News