Reflect Offers 0.20 USDC Plus 80 RC Per Unit To Drift Hack Victims
2026-07-02 23:45

Woofun AI reports that Reflect, an a16z-backed stablecoin protocol, has initiated a voluntary recovery program for USDC+ holders affected by the April hack of Drift (now Velocity). The plan allows participants to sell their positions to Palindrome Engineering at a fixed rate of 0.20 USDC plus 80 Reflect Credit (RC) per unit, with full on-chain settlement available during a 180-day window starting today. Funded upfront by Palindrome, this initiative operates independently from the official Drift recovery process. Participants must waive any claims against Drift in exchange for immediate liquidity, while non-participants retain the option to utilize Drift's DFX recovery channel.

Disclaimer: Views are the author's own and do not represent the platform. Do not reproduce without permission. Content is for reference only, not investment advice. Trade at your own risk.
Tags:
USDC+
USDC
Reflect Credit
RC
DFX
Reflect
Drift
Velocity
Palindrome Engineering
Palindrome
a16z
Share:
back