finance
Drift Protocol Plans Relaunch with Tether's USDT After North Korean Exploit
Drift Protocol, which experienced a recent exploit linked to North Korean actors, announced plans to relaunch using Tether's USDT as its settlement layer. The company has secured a proposed funding package of up to $147.5 million from Tether and partners to support the relaunch.
Apr 16, 8:59 AM·1m read1 source
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The relaunch will incorporate Tether's USDT stablecoin as the platform's settlement layer. 5 million.
This funding comes from Tether, the issuer of USDT, along with other partners. The financial support is intended to facilitate the platform's recovery and future operations.
The use of USDT as a settlement layer aims to provide stability and reliability for users moving forward. Details about the timeline for the relaunch and the specific partners involved in the funding package have not been disclosed. The platform's future developments will be closely observed by stakeholders in the decentralized finance sector.
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