Velocity co-founder Cindy announced her departure, and the platform’s trading platform, after being hacked, has been rebuilt and relaunched.

Velocity, formerly known as Drift, co-founder Cindy announced in a post that she will step down as the exchange completes its rebuild and enters the next operational phase. Cindy and her fellow co-founders began building the perpetual contract trading platform five and a half years ago, launching its early version on Solana in November 2021. The platform has recorded over $150 billion in total trading volume. Cindy stated that the project faced a state-sponsored attack by a North Korean hacking group in April this year, with attackers having carried out six months of social engineering infiltration prior to the incident. Following the attack, the team reached an agreement with Tether within 10 days to enable user asset recovery, and collaborated with zeroShadow and multiple international law enforcement agencies to freeze and retrieve related assets. Over the past months, the team has implemented comprehensive security upgrades to the exchange. This week, Velocity completed audits by osec.io and Asymmetric Research, fully open-sourced its trading platform code, and officially relaunched. The team will later develop features including a Central Limit Order Book (CLOB) and Prop AMM, while continuing to advance asset recovery efforts and user growth. Cindy explained that she excels at building projects from scratch (0 to 1), while Velocity now needs an operational team capable of driving the project from 1 to 10. She will continue to support Velocity and the founders and teams it has invested in after her departure.