At least 12 Crypto Protocols Targeted Post-Drift Hack
Key Takeaways:
- Over 12 crypto entities compromised within weeks after Drift Protocol’s $280 million breach.
- Recent hacks include Rhea Finance ($7.6M) and Grinex exchange ($13.7M).
- AI advancements raise concerns about simplifying future cyberattacks.
- North Korean groups allegedly involved in high-profile crypto breaches.
- First quarter 2026 saw $168.6 million stolen from 34 DeFi projects.
WEEX Crypto News, 2026-04-17 07:11:25
Fresh Wave of Attacks on DeFi Protocols
In just weeks following the high-profile Drift Protocol breach on April 1, a staggering $280 million was siphoned off by suspected North Korean actors. This incident set off a fresh spree of exploits targeting at least 12 prominent crypto projects, including CoW Swap, Hyperbridge, and Bybit, to name a few. To quickly encapsulate, digital marauders have left major protocols scrambling to patch holes left by these attacks. This is a stark reminder of the tenacity of cybercriminals in exploiting vulnerabilities.
Rhea Finance and Grinex: Recent Major Hacks
Rhea Finance recently fell victim to a calculated breach eroding $7.6 million. This was achieved through a cunning manipulation of its Margin Trading feature, misleading judge and oracle alike. Mid-April also witnessed Grinex, a Russia-influenced exchange, cease operations after losing $13.7 million in a hacking spree. Their official stance blames these losses on “unfriendly states,” highlighting geopolitical factors in cryptosphere attacks.
Binance Smart Chain and Other Exploits
The Binance Smart Chain also faced assaults as its TMM/USDT liquidity pool was exploited, costing them $1.67 million. Dango followed suit with a $410,000 theft resulting from a smart contract flaw. Meanwhile, Silo Finance lost $392,000 due to a misconfigured oracle, just as Aethir was looted for $423,000 due to access control issues. Highlighting the facts, these hacks underline the flaws still prevalent in decentralized platforms.
North Korea’s Infiltration Shadow
To lay it bare, the Drift and Zerion hacks expose the North Korean threat, employing AI-powered social engineering to gain access to critical funds and credentials. This exploitation amplified by AI advancement, namely tools such as Anthropic’s model Claude Mythos, has become a major concern for the crypto community at large. Between January and March 2026, a jaw-dropping $168.6 million was illicitly extracted from 34 DeFi platforms — a data point that screams attention.
Implications for the Future
AI’s role in streamlining breaches cannot be understated — they intensify the risk factor already inherent in DeFi transactions. To stay a step ahead, the industry must amplify its security protocols and adopt dynamic threat response strategies. The bitter truth is simple: Trust is now more valuable than ever, and without it, crypto’s very backbone could shatter.
FAQ Section
What is the Drift Protocol exploit?
The Drift Protocol exploit, dated April 1, 2026, involved nearly $280 million stolen due to a sophisticated social engineering attack likely linked to North Korean groups.
How was Rhea Finance hacked?
Rhea Finance’s exploit involved $7.6 million loss through a coordinated manipulation of its Margin Trading feature, misleading its validation and oracle layers.
What is the impact of AI on crypto security?
AI advancements, specifically in social engineering, have made it easier for attackers to breach crypto systems, posing a growing threat to DeFi’s integrity.
Why is North Korea suspected in these attacks?
North Korea is suspected due to its history of cyber warfare and recent evidence linking the country to breaches using AI and social engineering tactics.
How much has been lost to DeFi hacks in 2026?
In the first quarter alone, $168.6 million was extracted from 34 DeFi protocols, raising alarms on the growing need for stronger security measures.
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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.
The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.
Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.
Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.
The trading process has been streamlined into five steps:
· Choose the trading asset
· Select long or short
· Input position size and leverage
· Confirm order details
· Confirm and open the position
The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.
Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:
· End-to-end encrypted private groups supporting up to 1024 members
· End-to-end encrypted voice communication
· One-click position sharing
· One-click trade copying
On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.
By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.
Mixin has also introduced a referral incentive system based on trading behavior:
· Users can join with an invite code
· Up to 60% of trading fees as referral rewards
· Incentive mechanism designed for long-term, sustainable earnings
This model aims to drive user-driven network expansion and organic growth.
Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:
· Separation of transaction account and asset storage
· User full control over assets
· Platform does not custody user funds
· Built-in privacy mechanisms to reduce data exposure
The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.
Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.
The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.
Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.
This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."
The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.
Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.
Its core capabilities include:
· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations
· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets
· Decentralization: achieving full user control over assets without relying on custodial intermediaries
· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication
Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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