Solana Yield Protocol Carrot Collapses After $8M TVL Wiped Out in Drift Exploit

The Solana yield protocol, Carrot, confirmed the cessation of its operations following the devastating exploit suffered by Drift Protocol in early April. The undertaking administration reported that the assault, which drained roughly $8 million in Complete Worth Locked (TVL) from its vaults, made the continuity of the service unsustainable. Confronted with this “catastrophic” state of affairs, the group has enabled a voluntary withdrawal interval for customers to get well their remaining property earlier than the ultimate liquidation.

1/ Carrot is shutting down

That is definitely not the end result we wished, however the state of affairs with the Drift exploit, has confirmed to be catastrophic for our continued operations.

— Carrot (@DeFiCarrot) April 30, 2026

This closure marks a unfavourable milestone for the DeFi ecosystem on Solana, with the Drift exploit being the most important of 2026. Carrot, which operated for 2 years as a “yield working system,” was straight affected attributable to its deep integration with Drift’s liquidity. The affect is mirrored not solely within the lack of funds but in addition within the adjustment of the online asset worth of the CRT token, highlighting the dangers of interconnectivity and contagion inside decentralized finance when a base protocol collapses.

Customers of the Enhance, Turbo, and CRT merchandise have till Could 14, 2026, to withdraw their funds manually. As soon as the deadline passes, the group will start a complete deleveraging means of positions to launch the remaining liquidity. Affected events are suggested to observe official Discord and X channels for any updates concerning attainable future distributions derived from a restoration of funds by Drift.

Supply:https://x.com/DeFiCarrot/standing/2049907092664762624

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