Drift Opens Recovery Claims, With Initial Redemption Value of Just Over 1% of Losses

By Kevin · 2026-10-03 · News

Oct. 3 (CandyPulse) — Six months after one of the year's biggest DeFi hacks, victims of the Drift exploit can finally file claims. But the first payout is small. The recovery tokens they receive are, for now, worth just over 1% of what they lost.

Key takeaways

Claims are open for users hit by April's $295 million Drift exploit
Victims receive 1 DFX token per $1 lost
Each DFX is initially redeemable for about $0.0104, roughly 1% of losses
Further recovery depends on future funding; claims close January 1, 2028

How the claims work

The Solana-based perpetual futures exchange, now operating as Velocity (formerly Drift), has launched a recovery token called DFX. Affected users receive one DFX for every 1 USDT they lost in the April hack.

DFX can be redeemed from a recovery pool. That pool currently holds about $3.11 million, against a total DFX supply of roughly 299.5 million, which works out to about $0.0104 per token today.

By the numbers

Detail	Figure
Losses in the April exploit	About $295.4 million
DFX per dollar lost	1
Recovery pool today	About $3.11 million
Initial value per DFX	About $0.0104
Claim deadline	January 1, 2028

Can it get better?

That's the key question, and the answer depends on money that hasn't arrived yet.

Protocol revenue: the Drift Foundation says the pool will be topped up continuously from the platform's revenue.
Tether's support: Tether has committed up to $127.5 million to help the platform restart and compensate users.

No new DFX will be issued, so every extra dollar added to the pool raises the value of each token. In effect, victims are being offered a stake in the platform's recovery rather than a cash refund today.

Why some users are unhappy

For many victims, a 1% starting payout is a hard pill to swallow. Holding DFX means waiting, and trusting that revenue and pledged support will eventually arrive. Users who redeem early lock in the low rate; those who hold are betting on a comeback.

What users should do

Claim through official channels only, and be wary of "helpers" offering to speed up payouts.
Read the terms carefully before redeeming, since redeeming now means accepting today's rate.
Note the deadline: January 1, 2028.

What's next

Watch the size of the recovery pool. As revenue and any Tether funding flow in, the value of each DFX should rise, and that will decide how much victims ultimately get back.

This article is for information only and is not financial advice.