Drift Exploit Funds Were Prepared Through NEAR Intents Days Before Attack, Analyst Says
Drift Protocol states attackers gained admin control about a minute after a test insurance fund withdrawal, and the team says pre-signed durable nonce transactions and likely compromised multisig approvals were involved.
Drift Protocol said attackers seized admin control roughly one minute after a test withdrawal from its insurance fund. According to the project, the exploit involved two pre-signed durable nonce transactions and likely compromised multisig approvals. The team said it is working with security firms, bridges, exchanges, and law enforcement to trace and freeze the stolen funds. This adds project-issued details to earlier reporting that an on-chain analyst had linked exploit-related funding and subsequent laundering activity to addresses connected through NEAR Intents and Backpack.
- Durable nonce transactions: Transactions that use a stored nonce so they can be signed in advance and executed later without relying on a recent blockhash.
- Multisig: A wallet or authorization setup that requires approvals from multiple parties before a transaction can be executed.
- NEAR Intents: A transfer and execution framework on the NEAR ecosystem that can route assets or actions across chains through user-defined intents.