DRIFT fluctuated 56.6% in 24 hours: Panic rebound triggered by further disclosures following hacker incident

Volatility Summary

In the past 24 hours, DRIFT's price hit a low of $0.0399 and a high of $0.0625, currently sitting at $0.0586, with a fluctuation amplitude reaching 56.6%. The 24-hour trading volume expanded significantly to around $20.21 million–$35.34 million, showing increased activity compared to usual levels.

Brief Analysis of the Cause of Market Moves

- Drift Protocol confirmed that the $285 million hack on April 1 was the result of a six-month social engineering attack by North Korean intelligence agencies, with the latest disclosure in the past 10 hours triggering another wave of panic selling in the market.

- After the hack, whale/team wallets deposited approximately $2.44 million worth of DRIFT tokens to exchanges, amplifying selling pressure.

- On-chain data shows ongoing outflows after the attack, with price volatility exceeding 40% in 24 hours and lows reaching $0.0341.

Market Views and Outlook

The dominant sentiment in the community remains panic, with X platform discussions focusing on "rapid 34% decline" and "panic selling", but retail sentiment on Stocktwits has shifted to "bullish". Analysts caution that DeFi security risks are rising, and high volatility may continue; attention should be paid to protocol recovery and fund retrieval progress.