Ranger Finance announced that it will gradually shut down due to funding pressure and the impact of the Drift attack.

Solana ecosystem DeFi project Ranger Finance is gradually shutting down. The project undertook operations beyond its sustainable scope, and the founder injected personal funds to maintain operations, but financing delays led to accumulating bills. Ultimately, financing was unsuccessful, and the funds raised were returned. The team used the remaining two months of operating capital to pay employees and suppliers as fairly as possible, but it was insufficient to cover all expenses. The treasury liquidation was unexpected and severely impacted budget decisions. The subsequent Drift attack depleted the remaining funds and personal capital. Vault users affected by the Drift attack will receive recovery tokens when distributed by the Drift team. The founder stated that in hindsight, the project should have been shut down earlier and apologized for this.