Tether To Lead $150M Recovery Program for DeFi Platform Drift Protocol
Airfind news item
By Vince Quill
Published on April 16, 2026.
Stablecoin issuer Tether, the company behind USDt (USDT), has announced a $150M recovery program for the Drift Protocol decentralized exchange (DEX) following an exploit of the platform in April. The recovery plan includes $127.5 million from Tether and $127 million from undisclosed partners. The Drift Protocol platform will contribute directly to the recovery of user funds as the platform resumes normal trading activity. The company also plans to transfer its settlement asset from the USDC (USDC) dollar-peaked stablecoin to Tether’s USDt as part of the site’�s relaunch. The announcement follows criticism from crypto industry executives, cybersecurity researchers and security firms over not freezing the funds linked to the attacker, who was linked to North Korea.
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