Drift opened DFX recovery-token claims and redemptions on 1 October 2026. The initial redemption amount was about 0.0104 USDT per DFX—roughly 1.04 cents for each dollar of verified loss. That is the launch rate, not a promise of full repayment or a final recovery value; it can change as the Recovery Pool and outstanding DFX supply change.
What the one-cent figure means
Drift allocates one DFX for each USDT of verified loss. That allocation is not the amount of USDT a claimant receives. The redemption amount is calculated from the Recovery Pool balance divided by outstanding DFX supply. At launch on 1 October 2026, Drift reported about 3.1 million USDT in the pool and an initial redemption amount of about 0.0104 USDT per DFX. Drift characterizes its example figures as illustrative, not as a projection or promise.
Drift listed total supply as 299,500,810.998 DFX, fixed at one token per verified USDT of loss, with no additional DFX to be minted. Because balances and supply change, check Drift’s live information before deciding; the launch figures are not a current quote.
Who can claim, and which wallet to use
The claim is tied to the wallet that controlled the affected Drift account on 1 April 2026. Drift’s portal checks the connected wallet against its loss snapshot and displays any allocation. Use the official DFX claim portal; the guide does not require a third-party recovery service.
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- Open the official DFX claim portal and connect the wallet associated with the Drift account at the time of the snapshot.
- Check the allocation shown for that wallet.
- Review and agree to the claim terms, then approve the claim transaction.
- Keep a small amount of SOL in the wallet to pay 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; a different wallet cannot claim the allocation simply because it belongs to the same person.
If a claim fails
The guide also identifies the message “Claim Failed.” Confirm that you are using the wallet tied to the loss snapshot, that it has SOL for network fees, and that you are interacting with the official portal. Do not share your seed phrase or private keys with anyone offering help.
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What you can do after claiming DFX
Drift lists three choices: redeem DFX for USDT from the Recovery Pool, transfer or sell DFX on secondary markets, or hold it. Each has a different trade-off.
| Choice | What it means | Main consideration |
|---|---|---|
| Redeem | Burn DFX and receive USDT from the pool in the same transaction. | Provides the displayed redemption amount now; Drift says redemption is final. |
| Hold | Keep DFX rather than redeeming or transferring it. | Leaves you exposed to future pool deposits and changes in outstanding supply; no future payment amount or date is guaranteed. |
| Transfer or sell | Move DFX or trade it on a secondary market. | Any market price and liquidity depend on that market; Drift does not promise either. |
Any wallet holding DFX can redeem, even if it is not the wallet that made the original claim. Drift says redemptions are final, so check the displayed amount and transaction details before approving one.
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How the redemption amount may change
Drift defines the redemption amount as Recovery Pool balance divided by outstanding DFX supply. Under the published mechanism, revenue deposits increase the amount; a redemption removes USDT and DFX in the same proportion, leaving the rate unchanged. Drift describes the pool as only growing and the redemption amount as never falling under those mechanics. That mechanism does not establish a future market price or a schedule for full repayment.
Drift says pool funding may include a share of Velocity Net Protocol Revenue, up to 127.5 million USDT in Tether support, up to 20 million USDT from other partners, and recovered stolen funds. These are stated funding sources and maximums, not evidence that all funds have already been deposited. For protocol revenue, Drift says 60% of the first 30,000 USDT in 24-hour Net Protocol Revenue goes to the pool, 70% of revenue in the 30,000–100,000 USDT band, and 90% above that band; the rates apply progressively only to revenue within each band.
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Claim deadline and unclaimed tokens
Drift says the DFX claim window closes at 00:00 UTC on 1 January 2028. It says any unclaimed DFX will be permanently burned after the window closes.
Keep the Insurance Fund claim separate
The DFX recovery-token claim is not the same as an Insurance Fund withdrawal. Drift’s 16 April 2026 incident update said the Insurance Fund was unaffected and depositor assets remained intact. A later note said eligible depositors could withdraw from 7 July 2026. Eligibility and process for that withdrawal are separate from a wallet’s DFX allocation.
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An additional route described for some USDC+ holders
Reflect’s recovery page describes a voluntary USDC+ buyback offering 0.2 USDC plus 80 Reflect Credits per USDC+, subject to its program terms, or a path to claim Drift Recovery Tokens. The cited page does not establish that every affected person or asset is eligible. Check the applicable terms, eligibility, and what you surrender before choosing; do not assume this offer applies to all Drift losses.
What is known about the incident figures
Drift’s 16 April 2026 incident update itemized stolen assets at $295,706,374.93. Tether’s announcement on the same date described approximately $285 million in user losses. These are differently attributed figures and should not be treated as interchangeable totals.
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