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Drift opened claims and redemptions for its recovery token, DFX, on October 1, 2026. At launch, each DFX could be redeemed for about 0.0104 USDT—roughly 1.04 cents per dollar of verified loss. That is the initial redemption amount, not a guaranteed final recovery rate: it changes with the Recovery Pool balance and the amount of DFX still outstanding.
What the launch rate means for affected users
Drift allocates one DFX for each USDT of verified loss. The allocation is not the same as the amount of USDT a claimant can receive: the payout depends on the Recovery Pool and outstanding DFX supply. Drift reported about 3.1 million USDT in the pool and an initial redemption amount of about 0.0104 USDT per DFX on October 1, 2026. The rate is time-sensitive; check Drift’s live portal for the current amount.
Drift reported a fixed total supply of 299,500,810.998 DFX, with no new tokens to be minted. Its example amounts are illustrative, not a projection or promise of full repayment. Drift’s April 16, 2026 incident update itemized $295,706,374.93 in stolen assets, while Tether described approximately $285 million in user losses on the same date. Those are separately attributed estimates, not interchangeable measures.
How to claim DFX
- Go to the official Drift DFX claim portal.
- Connect the wallet that controlled the affected Drift account on April 1, 2026. The portal checks the connected wallet against Drift’s loss snapshot and displays any allocation.
- Review the allocation, agree to the terms, and approve the claim transaction. Keep a small amount of SOL in the wallet for network fees.
If the portal says “No recovery tokens allocated”
Drift says this message means the connected wallet is incorrect. Switch to the wallet that held the Drift account at the snapshot time. Do not treat a missing allocation as proof that another wallet or third-party claim service is required.
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Claim deadline
Drift says the claim window closes at 00:00 UTC on January 1, 2028. Any DFX left unclaimed after the window closes will be permanently burned.
What happens after claiming
Drift lists three choices: redeem DFX for USDT from the Recovery Pool, transfer or sell DFX on secondary markets, or hold it. Any wallet holding DFX can redeem; it does not have to be the wallet used to claim. A redemption burns the submitted DFX and pays USDT in the same transaction, and Drift says redemptions are final.
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| Choice | What it provides | Main consideration |
|---|---|---|
| Redeem | USDT at the current redemption amount | Immediate pool payout; redeemed DFX is burned and the transaction is final. |
| Hold | No immediate USDT payout | Retains exposure to future pool deposits and the remaining DFX supply; future timing and total recovery are not guaranteed. |
| Transfer or sell | A transfer, or proceeds if a buyer is available | Secondary-market price and liquidity are not guaranteed by Drift’s redemption mechanism. |
How the redemption amount can change
Drift defines the redemption amount as the Recovery Pool balance divided by outstanding DFX supply. Under that formula, new USDT deposits raise the amount per DFX. A redemption removes USDT and DFX in the same proportion, so Drift says it leaves the rate unchanged. These mechanics describe the published formula; they do not establish a future market price or a date when users will be fully repaid.
Drift says the pool can receive a share of Velocity Net Protocol Revenue, recovered stolen funds, and announced support from Tether and other partners. For protocol revenue, Drift describes progressive daily bands: 60% of the first 30,000 USDT in 24-hour Net Protocol Revenue, 70% of revenue in the 30,000–100,000 USDT band, and 90% above that band. Each rate applies only to revenue in its band.
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Drift’s October 1 guide describes up to 127.5 million USDT from Tether and up to 20 million USDT from other partners. These are stated maximums or support commitments, not evidence that the full amounts have already been deposited. Drift’s April 16 update described Tether’s support as proposed. Neither those arrangements nor future protocol revenue establish a guaranteed full-payment date.
Keep the Insurance Fund claim separate
The DFX claim is distinct from an Insurance Fund withdrawal. Drift’s April incident update said the Insurance Fund was unaffected; a July 7 note said eligible depositors could claim from it. Eligibility and withdrawal of Insurance Fund assets do not determine a user’s DFX allocation.
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Another possible route for some USDC+ holders
Reflect’s recovery portal describes a voluntary USDC+ buyback offering 0.2 USDC plus 80 Reflect Credits per USDC+, subject to its terms. It also describes claiming Drift Recovery Tokens as another path. The cited portal does not establish that every affected user or asset qualifies. Before choosing, check your eligibility, the applicable terms, and what rights or assets you surrender under each option.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What Drift says about the rebuild
In its April 16, 2026 incident update, Drift said it was working with law-enforcement and forensic partners and that recovered funds would go to the Recovery Pool. The update also described relaunch security measures including independent audits, redesigned community multisig controls, dedicated signing devices for signers, timelocks, real-time alerts, and disabling durable nonces for signers. Those are protocol security measures, not steps claimants need to complete.
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