DeepFlowTech

Russia plans to pass legislation to crack down on illegal mining, with 13 regions already fully banning mining activities.

5m ago

The Russian government has submitted a bill to impose criminal penalties for illegal cryptocurrency mining, with violators facing fines of up to 2 million rubles and up to 5 years in prison. Currently, there are fewer than 1,500 registered miners, and the mining ban has been expanded to 13 regions, with the ban lasting until 2031.

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6m ago

Deep Tide TechFlow News, April 2nd, Wormhole issued a statement on the X platform regarding the impact of the Drift Protocol attack. They stated that Wormhole user assets are currently not at risk, and cross-chain bridge functions remain operational. However, due to built-in security mechanisms set for Solana, some cross-chain transfers may experience delays. Wormhole core contributors have been in communication with the Solana ecosystem team and will continue to provide support as needed.

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18m ago

Deep Tide TechFlow News, April 2nd, the Nikkei 225 Index fell by 2% intraday. (Jin10)

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37m ago

Deep Tide TechFlow News, April 2nd, Perena founder Anna posted on the X platform stating that its USD, USD-J, USD*-P products were not affected by the Drift incident, but the company's JLP vault managed by Trade Neutral was impacted due to operating on the Drift protocol vault. The team will communicate promptly after receiving updates from partners.

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47m ago

Deep Tide TechFlow News, April 2nd, Meteora posted on the X platform stating that the platform's funds are secure, and all functions and vaults have not interacted with the Drift protocol. The treasury has also not been deployed to Drift or its integrated vaults.

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Deep Tide TechFlow News, April 2nd, HTX market shows that BTC has fallen below $67,000, currently trading at $66,929, with a 24-hour decline of 1.15%.

BTC-1,63%

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Deep Tide TechFlow News, April 2nd, AT Global Markets Chief Market Analyst Nick Twidale stated that the market is extremely eager to receive clear information on when the conflict will end, but this speech has instead added more uncertainty. Investors clearly are not convinced; I believe the global markets may further decline today. We had hoped he would announce a ceasefire today, but the reality is disappointing. Although he claims the war will end soon, the key information that "Iran will be targeted in the coming weeks" is a significant negative for the market, indicating that the war may

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Deep Tide TechFlow News, April 2nd, according to Al Jazeera: Just as Trump finished his nationwide speech, Iran launched a large number of missiles at Israel. (Jin10)

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SlowMist's review of Drift Protocol theft: Lack of multi-signature security mechanisms was the main cause; DeFi project teams need to rehearse extreme scenarios.

The Drift Protocol theft incident was migrated to a 2/5 multisignature setup without a timelock due to improper implementation, allowing the attacker to quickly take over admin privileges, resulting in asset losses exceeding $200 million. SlowMist founder urges DeFi project teams to regularly review security mechanisms, and users should be aware of the risk of fund losses.

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DRIFT-38,24%

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Analysis: The money laundering route for Drift stolen funds involves Backpack accounts, with KYC information potentially serving as a key clue.

Drift Protocol vault was recently drained by attackers. After obtaining initial funds through Near Intents, the attacker transferred large amounts of money to multiple money laundering addresses and used Wormhole to bridge assets to Ethereum, with the source of funds pointing to Tornado Cash. Backpack co-founder stated that the flow of funds was an indirect route.

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DeFi's "God Key": From Drift's $285 million theft, the biggest vulnerability in decentralized finance

Author: Deep Tide TechFlow
April 1st, April Fools' Day.
Solana's largest perpetual contract exchange, Drift Protocol, is being drained, and the community's first reaction was, "Nice April Fools' joke."
But this is no joke. Around 1:30 PM, on-chain monitoring accounts Lookonchain and PeckShield simultaneously sounded the alarm: a mysterious wallet starting with "HkGz4K" was rapidly withdrawing assets from Drift's treasury. The first transfer was 41 million JLP tokens, worth $155 million. Following that, 51.6 million USDC, 125,000 WSOL, and 164,000 SOL were also transferred out.

DRIFT-38,24%

SOL-4,7%

USDC-0,01%

ETH-1,14%

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Deep Tide TechFlow News, April 2nd, HTX market data shows that DRIFT has dropped over 36% in the past 24 hours, currently trading at $0.043.

DRIFT-38,24%

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Drift Protocol stolen assets have been bridged and converted into 129,000 ETH.

Perpetual contract DEX Drift Protocol on Solana was hacked on April 2, resulting in losses of up to $285 million. The hacker transferred assets to Ethereum through various methods and exchanged them for 129,066 ETH, which are now dispersed across four wallet addresses.

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ETH-1,14%

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