Drift Security Incident Hits 11 Solana DeFi Protocols

According to SolanaFloor, 11 affected projects include Reflect Money and Ranger Finance, with some platforms pausing core functions after the incident.

Summary

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Terms & Concepts
  • DeFi (blockchain-based financial services): A category of crypto applications that provide services such as trading, lending, or yield generation without traditional financial intermediaries.
  • protocol: A blockchain application or rules-based system that runs on a decentralized network and provides a specific crypto-related service.
  • paused core functions: A temporary shutdown of essential platform features, typically used to limit risk or prevent further damage during a security incident.