Velocity DEX CEO Cindy Leow is stepping down effective September 29, 2026, just six months after rebuilding the platform following a $280 million exploit on April 1. The hack, linked to the Lazarus-affiliated group UNC6862, had completely paralyzed the protocol, formerly known as Drift Protocol, which had accumulated over $150 billion in cumulative trading volume since its November 2021 launch on Solana. After engaging OtterSec for security audits, rotating all keys, and open-sourcing the codebase, the team secured a credit line with Tether to manage liquidity during the reconstruction. The protocol was rebranded to Velocity DEX in July 2026 before its full public launch in September. Leadership now passes to David and Noah Prince, former Binance executives.
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