Drift Protocol-Related Address Shows $270.6 Million in Abnormal Fund Movements
According to MLM monitoring, the flagged wallet moved funds equal to about 50% of total value locked, with the assets mainly consisting of JLP and USDC.
Summary
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Terms & Concepts
TVL: Total value locked, a metric showing the total value of assets deposited in a crypto protocol.
USDC: A U.S. dollar-pegged stablecoin designed to maintain a 1:1 value with the dollar.
JLP: A crypto asset mentioned in the alert as one of the main holdings involved in the reported fund movements.