Back
Jupiter Exchange Says JLP Remains Fully Backed After Drift Vault Exploit

Jupiter Exchange Says JLP Remains Fully Backed After Drift Vault Exploit

Jupiter said JLP remains fully backed after the Drift exploit led to about $155.6 million in JLP position losses, adding that Jupiter Lend was not involved in the affected Drift market.

JLP
JUP

Summary

Jupiter said on April 2 that JLP remains fully backed despite losses tied to the Drift exploit, which it said caused about $155.6 million in JLP position losses. The company added that Jupiter Lend was not involved in the Drift market affected by the incident and said it was concerned for the Drift team and impacted users.

Terms & Concepts
  • JLP: A token referenced by Jupiter that the company said remains fully backed despite losses linked to the Drift exploit.
  • Exploit: A security breach that takes advantage of a vulnerability in a protocol or platform to steal or manipulate assets.
  • Jupiter Lend: A Jupiter-related lending product that the company said was not involved in the affected Drift market.