Reflect Launches Recovery Plan for Drift Hack Victims on July 2, Offering 0.20 USDC + 80 RC Per Unit

DRIFT-4.15%
According to BlockBeats, on July 2, Reflect announced an independent voluntary recovery plan for USDC+ holders affected by Drift's April hack. The a16z-backed stablecoin protocol opened a 180-day window for holders to voluntarily sell their positions to Palindrome Engineering at 0.20 USDC + 80 Reflect Credit (RC) per unit, with full on-chain settlement. Palindrome will pre-fund the program independently of Drift's recovery process. Participants will forfeit claims against Drift in exchange for immediate liquidity certainty; those opting out can continue supporting Drift's DFX recovery channel.
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