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The attack on dYdX came as a result of targeting YFI's long positions. $9 million has been used to cover funds lost in the attack.

The decentralized exchange dYdX recently faced a major financial challenge, as it was forced to tap into its insurance fund to cover $9 million in user liquidations. This situation emerged following a sharp 43% decline in the value of the Yearn.Finance (YFI) token, which had previously experienced a significant rise.

dYdX, a prominent decentralized exchange, has deployed its insurance fund to mitigate the impact of a severe liquidation event, where $9 million worth of user positions were affected. Antonio Juliano, the founder of dYdX, attributed these liquidations to what he described as a “targeted attack” against the platform.

The attack involved "market manipulation of the entire $YFI market," according to dYdX's CEO, and investigations are underway.

dYdX founder Antonio Juliano said that the decentralized exchange as well as the Yearn.Finance token (YFI) are victims of a targeted attack.

A crypto whale deposited more than $4 million worth of dYdX (DYDX) to the crypto exchange Kraken on Monday as the asset's price pumped, according to the blockchain tracker Lookonchain. DYdX is a decentralized derivatives exchange. The project's native token surged by 30% on Monday, the day the whale made the deposit.

DYDX (CRYPTO: ETHDYDX), the native token of the dYdX chain, has witnessed a sharp increase of over 20% in value in the last day. What Happened: This price rally occurs with anticipation building as a massive token unlock date approaches for early investors and core team members in just 16 days' time.

SOL, AVAX and DYDX rank among the top-performing altcoins this month. Cointelegraph investigates what is behind the move.

DYDX token surged 21% in 24 hours and 67% in 7 days after dYdX Chain enabled live trading in the beta stage on November 13

Decentralized exchange dYdX entered beta mainnet for its layer-1 on Tuesday, enabling USDC staking rewards for the proof-of-stake blockchain.

In a groundbreaking leap for the world of decentralized trading, dYdX Chain has officially announced the launch of its Beta Mainnet phase, ushering in a new era of enhanced trading capabilities across a diverse array of 33 markets. This pivotal moment marks a significant shift in the landscape of decentralized derivatives trading, offering users unprecedented opportunities within a robust and efficient trading ecosystem.

Over 2 million DYDX tokens are expected to be released into circulation at the end of November.

The beta mainnet stage of the dYdX chain has finally gone live, thus launching active trading across different markets.

With Bitcoin crossing the $35K level, the altcoins are booming especially the DeFi sectors. The Top DeFi tokens are breaking multiple resistances to give double digit returns over the last week and teases an uptrend continuation. In the last 24 hours, the top DeFi token performers are DYDX, RUNE, and CAKE.

DYDX, the native token of the newly released eponymous chain and decentralized exchange, has risen by more than 20% in the past 24 hours, just 16 days before more than $500 million worth of the tokens will be released to early investors and core team members.

Major coins and tokens, including Solana, have cooled from their recent rallies.

Circle's CCTP was available on Noble's testnet on Nov. 3 and will launch on the network's mainnet on Nov. 28.

dYdX Chain's beta mainnet stage has gone live, enabling active trading across more than 33 perpetual markets.

The dYdX Foundation is pleased to announce the open-sourcing of software for a Bridge User Interface that, if deployed, could “facilitate the conversion by users of ethDYDX to DYDX, the layer 1 (L1) token of the dYdX Chain.

Hardly a week after moving $19M, FTX and Alameda research have transferred $13.6M to centralized exchanges.

For those less versed in blockchain technology, this development signifies a significant leap forward in the world of decentralized finance and cryptocurrency. The dYdX ecosystem, a powerhouse in the crypto space, has taken a significant step in its mission to provide a decentralized, transparent, and accessible financial infrastructure for users worldwide.

The dYdX Foundation that fosters the popular dYdX decentralized exchange has announced another big milestone as it seeks to migrate away from Ethereum to its own, Cosmos-based blockchain network.

The dYdX Chain launch introduces bridging and staking functionalities, allowing ethDYDX to DYDX token conversion and enhancing network security.

Explore the journey of the dYdX Chain as it embraces its L1 token, DYDX, enhancing protocol functionality and community engagement.