Submit a tool

Now VelocityDrift was exploited in April 2026 and relaunched as Velocity

Drift lost about $295M in an exploit in April 2026, and the team relaunched as Velocity, a new deployment that carries over no on-chain state. Velocity lists BTC, ETH, SOL and HYPE perps, not memecoins. If you had funds on Drift, follow the DFX recovery program linked from velocity.exchange only. Ignore anyone offering to help you recover Drift funds.

Since 1 July 2026 · Sources: The Defiant, Velocity Exchange, Velocity docs: migrating from Drift

Drift logo

Drift

Memecoin perpsWeb

Drift was Solana's biggest perps exchange until an April 2026 exploit. It now operates as Velocity

Visit velocity.exchangeCompare 3 alternatives
VerifiedThe only official linkvelocity.exchange
  • docs.velocity.exchange
  • drift.trade
Checked 7 Nov 2026. Bookmark it and ignore links sent in DMs
PricingNow Velocity
Works onWebBest for: checking what happened to Drift

Real talk

Why people use it

  • Recovery program for affected users
  • Backed by Tether
  • Audited relaunch

Why people leave

  • Exploited for about $295M in April 2026
  • Old accounts don't carry over
  • No memecoin markets on Velocity

What is Drift?

Drift was one of the largest perpetuals exchanges on Solana. In April 2026 it lost about $295M in an exploit. In July the team rebranded as Velocity, built from Drift's code but deployed as a new program, so old Drift accounts don't carry over.

Velocity, at velocity.exchange, trades BTC, ETH, SOL and HYPE perps at up to 20x, with equities announced. It's backed by Tether, which committed up to $127.5M, and it runs the DFX recovery program for Drift users.

drift.trade still shows its old marketing page. Don't deposit there, and don't trust anyone in DMs offering Drift fund recovery. For memecoin leverage, use one of the alternatives below.

Drift vs the rest

Flash Trade logoFlash TradeLonging or shorting the big memecoinsWeb0.1%Jupiter logoJupiterBest swap priceWeb, iOSNot publishedLavarage logoLavarageLeverage on memecoins with no perps marketWebNot published

See all Drift alternatives compared

Drift FAQ

Is Drift legit?

Drift is a real project, but check its status first. Drift was exploited in April 2026 and relaunched as Velocity. Ignore anyone offering to help you recover Drift funds.

What happened to Drift?

Drift was exploited for about $295M in April 2026 and relaunched as Velocity in July 2026.

How do I recover funds from Drift?

Only through the DFX recovery program linked from velocity.exchange. Anyone contacting you about recovery is likely a scammer.

Facts last checked 7 Nov 2026. Fees change often: always check the fee line on your order preview.