DeFi protocol Carrot becomes first casualty of $285M Drift exploit

DeFi protocol Carrot becomes first casualty of $285M Drift exploit

0.22%TRX$0.3256 0.20%BCH$442.52 0.77%DOGE$0.1075 0.11%XLM$0.1593 0.57%ETH$2,281 0.78%BNB$617.05 0.01%SOL$83.94 0.89%HYPE$40.84 4.13%XMR$387.28 1.67%XRP$1.37 0.09%ADA$0.2476 0.16%BTC$77,234 1.46%Written by Brian Quarmby⁠, Staff Writer. Reviewed by Felix Ng⁠, Staff Editor. Written by Brian Quarmby⁠, Staff Writer. Reviewed by Felix Ng⁠, Staff Editor. DeFi protocol Carrot becomes first casualty of $285M Drift exploitLatest NewsPublishedMay 1, 2026Carrot's total value locked has collapsed 93% in a month, from $28 million to $1.99 million, leaving the protocol financially unable to continue. Solana-based decentralized finance yield protocol Carrot said Thursday that it is shutting down permanently, becoming one of the first DeFi protocols to fall due to contagion from the Drift Protocol exploit in early April. In an X post on Thursday, Carrot said the Drift exploit was “catastrophic” for the p

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