Yu Xian: Drift migrated its multi-signature service a week ago. The new multi-signature service only requires a 2/5 signature threshold and has no time lock.
Yu Xian, founder of SlowMist, posted on X: "Drift Protocol suffered a loss of over $200 million. A week ago, they migrated to a 2/5 multisignature pool (1 old + 4 new signers) without timelock. A few hours ago, the attackers took over admin privileges, minted CVT counterfeit coins, manipulated the oracle, disabled relevant security mechanisms, and absconded with the pool's valuable assets..."
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