Drift Protocol rebrands to Velocity DEX three months after $280 million exploit

Drift Protocol has announced that it is rebranding to Velocity DEX as part of its relaunch effort after the Solana-based perpetual futures exchange lost over $280 million in an April 1 exploit attributed to North Korea’s Lazarus Group. The company’s rebranding is backed by a $127.5 million credit line from Tether. As part of the...