The RLB perps market on Drift Protocol experienced an exploit due to a bug in the Pyth Network oracle, with attackers buying at $0.121 and selling at $0.131, draining funds from the RLB Drift liquidity pool. The exploit caused the RLB's oracle price to move by up to 7% intra-minute. Despite the spread of FUD and rumors of the exploit, Drift Protocol clarified that the issue was isolated to the RLB market, and they paused AMM trades as a precaution after noticing unusual trading activity. They reassured users that funds are secure (SAFU) and that trading, settlement, and all other markets are live and unaffected. The total value locked (TVL) in the Drift liquidity pool (DLP) decreased by over $40,000, but the impact was considered not too severe.
This is false — there has not been an “exploit”. Yesterday we noticed unusual trading activity on the RLB markets. As a precaution Drift paused AMM fills for RLB. RLB is a small isolated market on Drift. Trading, settlement, and all other markets are live and unaffected. https://t.co/dfdoTrndXB
.@DriftProtocol on @solana has been exploited. The team assures that the funds are safe. https://t.co/P2oD2Xp2Gh https://t.co/h9b1QpBGUj
The @Citadel_Finance was attacked due to price manipulation. The redeem() function uses the getAmountsOut() function from the Camelot Pair to calculate the redeem amount. This results in a loss of around ~$92.7k USD. https://t.co/L8EojQdCAu https://t.co/rJLTjfR1YR
Noticing some FUD on the timeline around our RLB markets today. Stepping in to clarify that Drift is operating as per usual. Funds are SAFU. We are closely monitoring the isolated RLB markets for unusual activity. No users or markets are affected. https://t.co/g2QfWkKhWH
The team is closely monitoring unusual behavior on the RLB market. This behavior is isolated to RLB market; AMM trades for this market have been paused. Drift DLP stakers will not be affected. Your funds are safe. All other markets are unaffected as they are isolated.
Seems to be real, judging from the Grafana dashboard and isolated to RLB pool. RLB's oracle has been extremely unstable today, with mean price moving by up to 7% intra-minute. DLP''s TVL is down 40k+, so impact isn't too bad. https://t.co/RcmErVD82R https://t.co/yqo4cywP4K
RLB perps market on @DriftProtocol got exploited cause of a bug on @PythNetwork oracle. Attackers buying at $0.121 and selling at $0.131, thus draining the funds from the RLB Drift liquidity pool. https://t.co/ZCcY6Q2jco