Drift opens DFX recovery token claims for April exploit victims

Six months after one of the largest DeFi exploits of the year, Drift Foundation has started handing out IOUs. On October 1, 2026, the foundation opened claims and redemptions for DFX, a recovery token for users who lost funds in the April 1, 2026 security breach. The exploit drained an estimated $295.4 million from the Solana-based protocol. Victims can now claim one DFX for each USDT of verified loss. The window stays open until January 1, 2028. Any DFX left unclaimed after that date will be burned. How the DFX claims work DFX is a transferable SPL token, the standard token format on Solana. It is fully separate from DRIFT, the protocol’s existing governance token. Each DFX represents $1 of verified loss. Losses are measured using oracle prices fixed at the time of the incident on April 1, 2026, rather than whatever those assets trade at today. Holding DFX gives users a claim on a dedicated recovery pool. Because DFX is transferable, holders are not locked into waiting. Where the recovery money is supposed to come from The recovery pool started with around $3.8 million in protocol assets. That is a modest opening balance against a hole of $295.4 million. The foundation is counting...