ChainCatcher report: Cindy Leow, co-founder of Solana perpetuals exchange Drift (now Velocity), posted that Velocity has completed audits by OtterSec and Asymmetric Research and has fully open-sourced its code; the exchange has resumed operations today. She will step down as the exchange restarts and enters its next phase. Previously, ChainCatcher reported on April 1 that Velocity suffered a $295 million hack by North Korean hackers due to a security vulnerability.
Solana Perp DEX VelocityDEX Completes Audit and Reopens; Co-Founder Cindy Leow Announces Departure
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Summary
The Solana perpetual derivatives exchange VelocityDEX (formerly Drift) has reopened following audits by OtterSec and Asymmetric Research, with its full open-source code now publicly available. The platform previously suffered a hack in April 2025, resulting in losses of $295 million. Co-founder Cindy Leow has announced her departure as the project enters a new phase. This update brings fresh developments to the Solana derivatives market.
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