On April 16, Drift announced that the Drift Protocol has received support from Tether and other partners, with Tether contributing $127.5 million and other partners contributing $20 million to assist in user recovery following the attack on April 1. The support plan includes a $100 million revenue-linked credit line, ecosystem grants, and loans to market makers. Drift will establish a dedicated user recovery pool aimed at gradually addressing the $295 million in outstanding user losses as trading revenues increase. Additionally, Drift will issue independent recovery tokens to affected users, which represent a claim to the recovery pool and can be transferred. Drift is currently working on restarting the protocol and has hired Ottersec and Asymmetric for audits, while migrating the settlement layer from USDC to USDT. The previous attack resulted in the theft of approximately $295 million in assets, while the insurance fund's assets remained unaffected.
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