😅 $200M hack hit SOL, plus Trump kills peace rally

Drift lost $200M after a compromised admin key. SOL hits five-week lows. Trump threatened Iran "extremely hard" — erasing yesterday's rally. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Thursday, April 2, 2026   SOL hit five-week lows after Drift, one of Solana's largest perpetual DEXes, was drained of at least $200 million via a compromised admin key — not a smart contract flaw. The attack is a reminder that DeFi's security perimeter extends beyond code. Meanwhile, Trump's address to the nation threatened to hit Iran "extremely hard," erasing the two-day rally built on war-end hopes and sending BTC, ETH, and SOL sharply lower. U.S. initial jobless claims are due this morning. Read today's full report → Market snapshot As of 8am EST Asset Price 24h BTC $66,817 −2.69% ETH $2,051 −3.67% SOL $79.47 −5.17% XRP $1.32 −2.79% Prices approximate. Visit coindesk.com/price for live data. A message from Nexo Unlock 30 Days of Wealth Club Premier with Nexo Nexo is a premier digital wealth platform offering crypto yield up to 16%, crypto-backed credit lines, and a wide range of digital assets. It is returning to the U.S. with an enhanced platform and 30-day access to exclusive privileges for new clients. Join Nexo Nexo's products and services are not available to residents of certain jurisdictions. This content is not intended for use by persons in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Rates, product availability, features, and applicable terms may vary based on jurisdiction, eligibility, loyalty tier, and other factors, and are subject to change at any time. What matters today Security   Story 1 of 3 Drift loses $200M in Solana's biggest DeFi hack. The culprit: one admin key. The attacker compromised Drift's admin key — a single credential granting god-like control over the protocol — then used it to create a fake collateral market for a worthless token and drain at least $200 million from multiple Drift vaults, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking. This is Solana's largest DeFi exploit outside of the $326M Wormhole bridge hack. SOL fell to five-week lows. The lesson, per Chaos Labs founder Omer Goldberg: "Audit the surface area of your admin key. Not only the smart contracts." Read more → Geopolitics   Story 2 of 3 Trump threatened to hit Iran "extremely hard," killing the peace rally overnight The two-day bounce in crypto and equities built on war-end hopes was erased after Trump's national address took a hawkish turn rather than the ceasefire hint markets had priced in. BTC, ETH, and SOL all sold off, with derivatives data showing weak conviction in the prior rally — muted open interest suggested it was driven by spot demand and short covering rather than fresh positioning. The Iran war narrative remains the single biggest macro variable for crypto heading into Q2. Read more → Markets   Story 3 of 3 Bitcoin traders keep chasing Trump's Iran signals. The real indicators are elsewhere. BTC has been whipsawed by Trump's shifting Iran rhetoric for six weeks, but analysts say the headline-driven moves are masking more durable signals: oil options positioning, U.S. Treasury yields relative to the 4.5% level that historically forces Trump policy pivots, and ETF flow trends. With yesterday's ceasefire hopes dashed and war risk back in the foreground, traders who chased the Tuesday–Wednesday pop are now nursing losses. The jobs report arrives tomorrow, a Good Friday with equity markets closed, adding another layer of complexity. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. Crypto Daybook Americas: A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2026 CoinDesk, All rights reserved.  CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA Unsubscribe Manage preferences