Drift to issue ‘recovery tokens’ in wake of $295m hack

Drift, a decentralized perpetual exchange, suffered a $295 million hack and will issue 'recovery tokens' to compensate affected users. The scale of the loss makes this one of the larger DeFi exploits of the year, and the token-based recovery plan raises questions about liquidity and eventual value for victims. Traders should watch for contagion risk across DeFi and any hit to confidence in similar perp DEX platforms.