The decentralized finance firm Drift has announced the suspension of both withdrawals and deposits following the confirmation of a security breach. 

In a statement on X, the cryptocurrency platform indicated that it was “undergoing an active attack” and was taking steps to “mitigate the situation.”

According to security analysts and public blockchain data, the potential losses may be considerable. Blockchain security company CertiK stated on X that attackers might have pilfered approximately $136 million, whereas crypto analytics firm Arkham estimated the stolen amount to be around $285 million.

If verified, this incident would mark the Drift breach as the most substantial cryptocurrency theft of the year, based on the Rekt leaderboard, which monitors crypto thefts by magnitude.

The identity of the perpetrators remains unknown, and a representative from Drift has not yet replied to a request for comment.

Security experts report that North Korea was responsible for the highest number of cryptocurrency thefts last year, amassing at least $2 billion in stolen cryptocurrency, funds that the regime is thought to utilize to fund its nuclear weapons program and evade international sanctions that limit its access to the global financial system.