Tether Steps In With $150M Plan After Drift Protocol Hack

[tradelikepro]

Tether is backing a $150 million recovery plan to help users affected by the Drift Protocol exploit, which saw around $280 million stolen.

The plan includes over $127 million from Tether and ties recovery to ongoing trading activity on the platform — meaning users could gradually regain funds as the exchange resumes operations. It’s another example of the crypto industry stepping in to support platforms after major hacks instead of letting them collapse.

[madtrader]

stepping in with $150M shows how much influence Tether has across the ecosystem