The platform, formerly Drift, said eligible depositors can now seek compensation through its insurance fund following the April security incident.
VelocityDEX, formerly Drift, said insurance fund claims are now live for eligible depositors affected by its April exploit. The update means users deemed eligible can begin the process of seeking reimbursement from the platform’s insurance fund, a reserve designed to cover certain losses after a security breach or trading-related shortfall. The statement did not provide further details in the source on claim procedures, payout timing, or the scale of losses.