Key Highlights
- Drift has opened DFX claims, with each token currently redeemable for about $0.01 from the Recovery Pool.
- The Recovery Pool holds about $3.1 million, but could grow through protocol revenue, Tether funding, partner funds, and recovered assets.
- DFX claims will remain open until January 1, 2028, while unclaimed tokens after the deadline will be burned.
Drift Foundation has opened claims and redemptions for DFX, a recovery token created for users who suffered verified losses in the April 1, 2026 incident.
According to the blog post published on Thursday, eligible users can claim one DFX for every 1 USDT lost, but each token can currently be redeemed for only about $0.01 because the Recovery Pool holds roughly 3.1 million USDT. The launch gives affected users a way to claim their recovery allocation, although the initial redemption value is far below the amount represented by each DFX.
The redemption value is based on the Recovery Pool balance divided by the total number of DFX tokens outstanding. As the pool receives more funds or the outstanding supply falls, the redemption amount can change.
DFX supply matches verified losses
DFX has a fixed supply of 299,500,810.998 tokens, matching the total verified losses recorded for the recovery plan. Drift said no new DFX will ever be created.
The token is also a standard Solana SPL asset, which means holders can transfer it or trade it on secondary markets such as Raydium. Its market price can therefore be different from the amount offered through the Recovery Pool.
Users can claim their recovery allocation
Users with verified losses already have their DFX allocation fixed in the loss snapshot. To claim, they must connect the wallet that controlled their Drift account on April 1, 2026. The claim portal checks the wallet against the loss record and shows the amount available. Users also need a small amount of SOL to cover the network fee.
After claiming DFX, users can hold or trade the tokens or redeem them for USDT through the recovery system. Once DFX is redeemed, those tokens are burned, and the redemption cannot be reversed.
The Recovery Pool is expected to grow over time. A share of Velocity’s daily net protocol revenue is sent to the pool at 00:00 UTC each day. The pool can also receive up to 127.5 million USDT from Tether, up to 20 million USDT from strategic partners, and any funds recovered from the April incident.
Drift recovers $9.2 million
The recovery effort received an update a day before the DFX launch. On Wednesday, Drift said about $9.2 million of the roughly $295.4 million stolen from users had been frozen. The Foundation said the stolen assets are spread across wallets, blockchains and jurisdictions, with Mandiant, zeroShadow, SEAL 911 and law enforcement helping track them.
The April attack saw more than $270 million in assets moved from Drift vaults. Among the assets moved were USDC, WSOL, and cbBTC, while large amounts were later moved across different networks. About 130,259 ETH was spread across four wallets, with one wallet later sending about 23,094 ETH to Tornado Cash in July.
The Foundation said every recovered dollar will go into the DFX Recovery Pool, whether the funds are recovered through a freeze, bounty, or law enforcement action. Drift is also working with Bybit on a public bounty that offers 10% of successfully recovered funds to those who help recover the assets.
DFX claims remain open until 00:00 UTC on January 1, 2028. After that deadline, any unclaimed DFX will be burned. This means the current one-cent redemption rate is not necessarily fixed for the entire recovery period, as the pool balance and outstanding token supply can change.
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