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Today's topic is the Drift Protocol Hack. Here to discuss is Omer Goldberg, founder and CEO of Chaos Labs. Welcome, Omer.

Hi, Laura. Thanks for having me.

Salana's Drift Protocol, the largest decentralized perpetual futures exchange on the Salana blockchain was hacked for $285 million, which just for context, the protocol's total value

locked before the attack was about $500 million.

So that was over half of the money in the protocol

that was drained. That also puts this hack amongst the top 10 defy hacks of all time and the

biggest this year thus far. The drift token dropped from over seven cents to 3.9 cents on the news

and is now trading a bit above five cents. So the hack was pretty

multi-layered and also quite methodical, it seems. It sort of seemed chilling, reading about it,

and it made me feel a little uneasy. The attacker or attackers compromised the system a little

while ago, actually, and then they

kind of waited.

So yeah, there are things about it that seems similar to the BIP attack.

But anyway, Omer, why don't you walk us through what it was that it appears these hackers

did to perpetrate this hack?

...