Velocity DEX CEO Steps Down After Rebuilding Platform from Ground Zero

Cindy Leow, co-founder and CEO of Velocity DEX, is stepping down effective September 29, 2026. Her departure comes just weeks after the platform completed a full public relaunch following a devastating exploit that drained over $280 million in April.

Leow spent six months rebuilding the platform, which had lost more than $150 billion in cumulative trading volume since its November 2021 launch on Solana. The team brought in OtterSec for security audits, rotated all keys, and redesigned the community multisig structure to prevent future exploits.

The financial recovery was equally aggressive, with a protocol revenue-funded pool established to address losses and a credit line arrangement with Tether secured to manage liquidity during the rebuilding phase. The platform rebranded as Velocity DEX in July 2026 and relaunched in September, bringing enhanced architecture, improved risk controls, and USDT settlement as the default.

Leow's departure marks the end of her five-and-a-half-year tenure with the project, which she described as a builder who thrives on taking projects from zero to one. The remaining leadership team includes David and Noah Prince, both experienced in the industry at Binance.