Impacted by a hacker attack, DRIFT faced short-term pressure, with its price dropping to $0.03 before consolidating in the $0.034–$0.036 range. This reflects the market's high sensitivity to single-point security risks. The team promptly introduced exchange relaunch and enhanced security plans. If the new architecture launches as scheduled in May-June and passes a second audit, confidence is expected to recover and liquidity may return. Execution progress and on-chain activity changes need to be closely monitored. Given Bitcoin's current stability and net ETF inflows, conditions for risk appetite recovery are present, and DRIFT has medium-term repair potential. Strategy suggestion: Closely monitor relaunch milestones. If no additional security incidents occur, $0.034 serves as a robust entry range, targeting a post-incident rebound to the $0.045–$0.05 level.

In early April, DRIFT's price plummeted rapidly from above $0.07 to around $0.03, accompanied by a surge in trading volume, reflecting large-scale one-off selling pressure. Recently, North Korean hacker groups launched targeted thefts against the platform and related DeFi projects using social engineering attacks and malicious macOS tools. The total losses exceeded $500 million, further exposing the single-signature risk inherent in cross-chain 'notary' architectures. Such security incidents turned market sentiment bearish quickly, with sell orders dominating the exchange and creating significant short-term price pressure.

North Korea's Lazarus Group is conducting the "Mach-O Man" cyberattack campaign targeting fintech and cryptocurrency executives using macOS malware toolkits. The group employs the ClickFix social engineering technique, tricking victims into executing commands on Mac terminals to access corporate and financial systems. Over $500 million has been stolen in two weeks from attacks on Drift and KelpDAO. The malware self-deletes to evade detection, and attackers also hijack DeFi project domains with fake Cloudflare messages.

North Korea's Lazarus Group attacks cryptocurrency and fintech companies using macOS malware toolkits

North Korea has conducted over $500 million in crypto thefts through the Drift and Kelp exploits within just over two weeks. What initially appeared as isolated incidents now seems to be part of a sustained campaign, likely motivated by the financial demands of the sanctioned state. DeFi platforms continue to be targeted in these expanding cyber heists.

North Korea’s crypto heist playbook is expanding and DeFi keeps getting hit

In three weeks, Drift, Hyperbridge, and KelpDAO were hacked, resulting in nearly $900 million in losses. Polygon CEO Sandeep highlighted that the issue lies not with individual teams but with the industry's shared "notary" architecture, which relies on one or two signers to approve cross-chain transactions—compromising them compromises all.

Polygon Co-founder Sandeep: Written After the Series of Cross-Chain Bridge Explosions

After the major security incident, the team announced the relaunch of its forked exchange between May and June and began strengthening system security and social engineering defenses. These measures are expected to technically address previous vulnerabilities, restore user confidence, and attract new liquidity. However, before the new architecture goes live, the market remains focused on execution progress and the results of a second audit. Currently, DRIFT is consolidating slightly in the $0.034–$0.036 range, indicating that both bulls and bears are awaiting this critical milestone.

Drift plans to relaunch its forked exchange in May or June, according to product lead Minhdonz on April 25. The update follows a major hack that resulted in a loss of about $285 million, attributed to social engineering attacks by North Korean hacking groups.

Drift: Plans to relaunch its forked exchange in May or June

On the macro side, Bitcoin has recently held steady in the $77,000–$78,000 range, with ETF inflows continuing and long-term holders' confidence remaining strong. On-chain data show that short-term holders have moved from deep losses to breakeven, reducing selling pressure. Overall market sentiment has recovered from extreme pessimism to a neutral-to-positive stance, creating an environment supportive of rebounds in small- and mid-cap tokens. However, DRIFT's daily trading volume has not yet returned to pre-incident levels, making it essential to monitor the sustainability of broader market risk appetite and actual trading activity within the DRIFT community.

Glassnode's latest report highlights intensified market tug-of-war with spot CVD turning negative, indicating increased selling pressure and emerging bearish sentiment. Futures show rising risk appetite but declining long funding rates, reflecting growing bearishness. Options suggest reduced downside protection demand and neutralizing volatility. Meanwhile, US spot ETFs see rising MVRV and inflows, boosting investor interest and supporting cautious optimism amid stable long-term holder confidence.

Glassnode: Market bullish and bearish struggles intensify, spot CVD turns negative indicating increased selling pressure, but ETF inflows provide support.

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Drift Protocol Price: DRIFT Live Price Today | DRIFT Market Cap & Chart Analysis | Bybit-eu

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DRIFT price today is 0.04, with a live price change of -1.14 in the last 24 hours. Convert, buy, sell and trade DRIFT on Bybit-eu.

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