capital · May 17, 2026
Ranger Finance Announces Phased Shutdown After Funding Delays and Drift Attack
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Ranger Finance co-founder cobra (@barrett_io) stated on X that the Solana DeFi project is undergoing a phased shutdown as of May 15, 2026. The closure stems from unsustainable operational costs, failed fundraising through MetaDAO, and the Drift attack that drained remaining funds and personal capital. Treasury liquidation outcomes exceeded expectations in negative impact on budgets. Founders used personal funds to support the team before the shutdown. Users impacted by the Drift attack will receive recovery tokens from the Drift team upon distribution.
Spend governor blocked model creation: provider_circuit_open (lane=dev, provider=together)