Solana-based perpetuals exchange Drift Protocol has suffered a series of large-scale outflows, with roughly $270 million in assets moving from the protocol's vault address in a matter of minutes.
The transfers spanned more than 15 distinct token types — including stablecoins, wrapped Bitcoin variants, liquid staking tokens, Jupiter’s JLP vault token, and even memecoins — all originating from an address Arkham labels as "Drift Protocol: Vault (JCNCM)," which corresponds to Drift's documentation.
The vault's holdings have fallen from $309 million to just $41 million.
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