Velocity Relaunches After Hack as Co-Founder Cindy Steps Down
The former Drift Protocol exchange completed a security rebuild, an audit and full code release before restarting operations.
Velocity has relaunched after rebuilding its exchange following an April hack, while co-founder Cindy steps down from her role at the former Drift Protocol platform.
The existing team will continue operating Velocity as it works on recovering assets, upgrading the technology and expanding the exchange. The rebuild included a comprehensive security upgrade, an audit and a full open-source release.
The team also reached an agreement with Tether during 10 days of round-the-clock work to support the recovery of user assets after the attack.
Cindy helped build the on-chain perpetual futures exchange with co-founders five and a half years ago. It launched on Solana in November 2021 and has processed more than $150 billion in cumulative trading volume.
Cindy said she is better suited to building projects from zero to one and will explore her next direction while continuing to support Velocity. The remaining team will lead the exchange as it moves forward after the relaunch.
