Carrot Announces Shutdown; Users Must Withdraw Remaining Funds Before May 14
DeFi project Carrot announced it will cease operations due to the significant operational impact caused by the Drift vulnerability exploit. Carrot has set May 14 as the deadline for users to withdraw remaining funds from Boost, Turbo, and CRT. Following this, the platform will begin deleveraging its system—reducing all leverage to zero—to free up liquidity for CRT redemptions. Carrot stated that user-deposited funds remain the property of users; should Drift pursue any subsequent recovery measures, related funds will still be distributed per prior announcements.
