In response to the recent $270 million exploit of Drift Protocol, the Solana Foundation has launched a series of security measures aimed at bolstering the network's defenses. The centerpiece of this initiative is Stride, a rigorous evaluation program led by Asymmetric Research that will assess Solana DeFi protocols against eight key security pillars and publicly disclose its findings.
Additionally, the Solana Incident Response Network (SIRN) has been established, comprising a group of security firms and researchers focused on providing real-time crisis response. Protocols with over $10 million in total value locked (TVL) that pass the evaluation will be eligible for ongoing operational security and active threat monitoring, funded by Solana Foundation grants, with coverage tailored to each protocol's risk profile. For larger protocols with over $100 million in TVL, the foundation will also provide funding for formal verification, a mathematical method that verifies the correctness of every possible execution path in a smart contract. The network is open to all Solana protocols, with priority given to those with higher TVL.
Founding members of SIRN include OtterSec, Neodyme, Squads, and ZeroShadow. While these initiatives address some of the vulnerabilities exposed by the Drift hack, they do not directly address the human element that was exploited in the attack. The hackers had spent six months building relationships with Drift contributors and compromised their devices through a malicious code repository and a fake TestFlight app. The Solana Foundation's new security measures may help mitigate similar attacks in the future, but they also highlight the importance of human vigilance and the need for a multi-faceted approach to security.
The foundation has emphasized that these programs do not shift the underlying responsibility away from the protocols themselves, underscoring the need for a collaborative effort to ensure the security of the Solana ecosystem.