Key Takeaways:
Carrot ( DeFi Carrot) shut down April 30, 2026, citing the $285 million Drift Protocol exploit as the cause. Users have until May 14, 2026, to withdraw from Boost, Turbo, and CRT before forced deleveraging begins. Drift recovery distributions will be paid proportionally via IOU token, based on a CRT snapshot from April 1, 2026. Carrot Gives Users Until May 14 to Pull FundsBy late April, Carrot’s TVL had dropped sharply, and operations remained limited. The team communicated updates via X and Discord throughout, including a snapshot of CRT holdings taken on April 1 at 20:00 UTC to preserve user claims for any future Drift recovery distributions.
The team confirmed that deposited funds remain the property of users throughout the wind-down process. Any recovery from Drift, expected in the form of an IOU token at an undisclosed future date, will be distributed proportionally based on the April 1 CRT snapshot. Claims are preserved even after users redeem their CRT tokens.
