According to on-chain analyst Ember (@EmberCN), six hours after the $285 million theft at Drift Protocol, FTX/Alameda sold 6.94 million DRIFT tokens via Wintermute, cashing out approximately $320,000. Previously, as an investor in Drift Protocol, Alameda received 8.33 million DRIFT tokens through vesting unlocks a year ago, when they were worth approximately $6.22 million. However, following the theft incident, the token’s value has sharply declined to around $380,000, and the proceeds from this sale have dropped to just $320,000, nearly halving the investment return.
FTX/Alameda sells 6.94 million DRIFT tokens via Wintermute for $320,000 following the Drift Protocol hack
TechFlowShare
Summary
FTX and Alameda sold 6.94 million DRIFT tokens through Wintermute for $320,000 after a crypto hack drained $28.5 million from Drift Protocol. The tokens were acquired a year ago for $6.22 million, but a protocol update and the security breach reduced their value to $380,000.
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