Decentralized finance company Drift has announced that it has suspended withdrawals and deposits due to a security incident.
In a post on X, the cryptocurrency platform said it was “under active attack” and was working to “contain the incident.”
Security researchers and public blockchain data suggest the losses could be significant. Blockchain security firm CertiK said in X that the hackers may have stolen around $136 million, while crypto analysis firm Arcam estimated the stolen figure at around $285 million.
If confirmed, the Drift hack would be the biggest cryptocurrency theft of the year, according to Rekt Leaderboard, a site that tracks crypto thefts by size.
It's not clear who is behind the attack, and a Drift spokesperson did not immediately respond to a request for comment.
Security firms say North Korea is behind most of last year's cryptocurrency thefts, making at least $2 billion in stolen cryptocurrencies, money that the North Korean regime is believed to use to finance its nuclear weapons program and evade international sanctions that restrict its access to the global financial system.