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Decentralized exchange dYdX has released a post-mortem report regarding a “targeted attack” on its v3 platform in November, resulting in a $9 million loss in its insurance fund, equivalent to approximately 40% of the total fund. The exchange's investigation has identified the attacker's identity, and legal actions are being considered against the perpetrator.
Discover how dYdX identified the attacker behind the $9M heist and the steps taken to fortify its trading platform against future threats. A tale of crypto cunning and cutting-edge defense in the decentralized exchange realm.
To avoid future coordinated attacks with similar tactics, dYdX said it had improved its v3 trading platform to enhance open-interest monitoring and alerts.
Decentralized exchange dYdX has released a comprehensive report analyzing the “targeted attack” it encountered on its v3 platform in November.
The decentralized exchange said it has identified the attacker behind the $9 million attack, and it is reviewing legal options.
In a notable development in the cryptocurrency market, DYDX, a prominent decentralized exchange, has unlocked 33.3 million DYDX tokens, valued at approximately $98 million. The event, closely monitored by FOMOonchain, represents a significant 12.34% of the total circulating supply of DYDX tokens.
Negative sentiment around dYdX has increased over the last few days, but price has remained unaffected.
Crypto derivatives volume surged, leaving some unbalances behind, which could trigger liquidation events. On that, some cryptocurrencies have seen increased short positions that, if liquidated, would cause a short squeeze.
Scopescan monitoring has unveiled a significant transaction that saw a crypto whale withdrawing a staggering 2.8 million DYDX tokens, translating to approximately 8 million USD, from the renowned trading platform Binance.
A widely followed crypto analyst is suddenly turning bullish on Gala (GALA) and two other altcoins. Pseudonymous crypto trader The Flow Horse tells his 186,500 followers on the social media platform X that the native asset of the blockchain-based gaming platform Gala is in an uptrend.
Euphory and greed are dominating sentiments in the cryptocurrency market at this point. Most traders and investors expect further growth and call for a bull market for Bitcoin (BTC) and altcoins in the coming days.
Three whales have transferred over $21 million worth of DYDX tokens to Binance shortly after the token unlock.
Decentralized finance (DeFi) protocol dYdX unlocked 150 million tokens earlier today, leading to a nearly 5% drop in its price during the past day despite the broader positive trend in the crypto market. $500M tokens unlocked The unlocked tokens, valued at $505 million, represent 81.63% of the circulating supply.
dYdX has unlocked 150 million DYDX tokens. Three big whales who received some of the tokens have sent the same to Binance.
In a notable development for cryptocurrency traders, the Ethereum-based decentralized exchange dYdX has expanded its offerings to include perpetual contracts for XRP, the third-largest altcoin by market capitalization. This move places XRP among five new markets added to the dYdX Chain, enhancing the platform's diversity in trading options.
On December 1, dYdX, the layer-2 decentralized exchange, will unlock 150 million DYDX worth roughly $478 million to early investors and core team members. This substantial unlock has raised concerns among investors, who fear the influx of fresh tokens could substantially increase supply.
dYdX announced new features on its blockchain. However, DYDX was down by over 8%, and other metrics looked bearish as well.
As the market faces rising volatility, investors are preparing for a big month, with multiple projects set to initiate their token releases. This rise in token supply could lead to a temporary decline in the value of leading altcoins such as DYDX, 1INCH, and Aptos, among others.
Ledger Live has integrated support for dYdX Chain and its DYDX token, enabling 1.5 million users to securely manage and stake DYDX via their Ledger hardware wallets.
The dYdX Operations subDAO is pleased to announce the launch of Full Trading on the dYdX Chain, introducing new and improved trading rewards, a 6-month Launch Incentive Program proposed by Chaos Labs, and the continuation of Validators and Stakers receiving 100% of protocol fees.
The perpetuals trading platform and layer-1 blockchain, dYdX, is set for a significant event on Friday. Founders, investors, and other key figures involved with the project will gain access to about 150 million previously locked DYDX tokens, currently valued at around $490 million.
The decentralized exchange platform dYdX has embarked on an exciting phase by rolling out its own custom blockchain, signaling a shift from its prior reliance on Ethereum.
Decentralized exchange (DEX) dYdX is going live with its new native blockchain featuring a hefty rewards program for its users. dYdX Chain, built using the Tendermint consensus with the Cosmos SDK, is a standalone chain for the DEX, which previously ran on Ethereum (ETH).
During the last token unlock, DYDX's price action did not turn bearish. DYDX was down by more than 4% in the last 24 hours, and negative sentiment around it was dominant.
