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      Velocity (formerly Drift Protocol) co-founder Cindy resigns; exchange restarts after rebuilding following hack

      PANews reported on September 30 that Cindy, co-founder of Velocity (formerly Drift Protocol), announced she will step down from her role at Velocity. The protocol will continue to be operated by the existing team. Cindy recalled that five and a half years ago she and her co-founder built an on-chain perpetual contract exchange, which launched on Solana in November 2021 with cumulative trading volume exceeding $150 billion. In April this year, the project suffered a North Korean hacker attack. After 10 sleepless nights, the team reached an agreement with Tether to facilitate the recovery of user assets, and rebuilt the exchange after a comprehensive security upgrade. Velocity has now completed its audit and is fully open source, officially restarting today. The team will continue to advance asset recovery, technology upgrades, and growth efforts. Cindy said she is better at building from 0 to 1, and will now explore her personal next direction while continuing to support Velocity.


      Source: PANews
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