DeFi protocol Carrot becomes first casualty of $285M Drift exploit
Cointelegraph
The Solana-based DeFi protocol Carrot is shutting down permanently following a 93% collapse in TVL triggered by the $285 million Drift exploit.Summary
DeFi yield protocol Carrot has announced its permanent closure after suffering a 93% decline in total value locked, dropping from $28 million to $1.99 million. The protocol cited the catastrophic impact of the $285 million exploit of the Drift Protocol, upon which it relied for yield generation. Users have been instructed to withdraw remaining funds by May 14, after which the system will be deleveraged to facilitate final asset distributions.
(Source：Cointelegraph)