Arche Capital Substack · Apr 7, 2026

$285 Million in 12 Minutes: Inside the Drift Protocol Hack and the Lazarus Group’s Evolving Playbook

0Sign in to vote or save

This site does not allow itself to be embedded. You can still read it on the original site — the toolbar below keeps your place in the directory.

North Korea didn’t exploit a smart contract. They exploited humans — and drained Solana’s largest DEX while the industry watched.

On April 1, 2026, Solana’s largest decentralized perpetual futures exchange lost $285 million. It took twelve minutes. Drift Protocol’s first communication to the public began with five words no one wanted to read that day: “This is not an April Fools joke.”

Within an hour, Drift’s total value locked collapsed from $550 million to under $250 million. The…

Read on archecapital.substack.com ↗

Comments

Nothing yet. Say the first thing.