GMX clarified that its contracts were secure after an exploit involving Abracadabra's cauldrons resulted in a $13 million theft.

A recent exploit on Abracadabra.Money, a cryptocurrency lending platform, targeted pools that were built using GMX GMX tokens.

Abracadabra.Money lost $13 million in an exploit that targeted liquidity pools using GMX tokens.

Abracadabra Finance has confirmed a security exploit affecting its gmCauldron smart contracts, resulting in the theft of approximately $13 million and is taking steps to recover the funds.

The attack targeted pools tied to GMX liquidity tokens, specifically “cauldrons” using GM tokens as collateral.

An attacker drain approximately 6,262 ETH, valued at around $13 million, from Abracadabra's liquidity pools on GMX.

Magic Internet Money (MIM) was exploited for 6,260 ETH, taken from lending vaults on Arbitrum. While MIM used GMX smart contracts, neither the GMX project nor the GM token were affected by the hack.

About $13 million worth of cryptocurrency has been drained from decentralized lending protocol Abracadabra.Finance following an exploit targeting pools using GMX tokens.In a March 25 X post, crypto cybersecurity firm PeckShield reported that contracts related to GMX and Abracadabra.Money had been compromised, resulting in the loss of about 6,260 Ether (ETH), worth around $13 million. The news follows Abracadabra.Money losing $6.49 million after its smart contracts were compromised in late January 2024.

dYdX has announced its first-ever buyback program, committing 25% of protocol fees to buy DYDX on the open market. Based on last year's revenue numbers, that could amount to over 11M in DYDX purchased per year.

TL;DR dYdX has launched a token buyback program to strengthen network security and improve the utility of its native token. 25% of the protocol's monthly net fees will be allocated to token buybacks, with the tokens being staked to enhance the network's resilience.

dYdX, the decentralized perpetual contracts trading platform community, has officially launched the first-ever $DYDX Buyback Program, a major move for the protocol. The post dYdX Community Launches DYDX Buyback Program appeared first on Cryptonews.

DeFi protocol dYdX has announced the launch of a token buyback program. The protocol plans to spend 25% of its net protocol fees on buying back the DYDX token from the open market.

dYdX will begin monthly token buybacks with 25% of its annual net protocol fees via its Treasury SubDAO.

With 85% of DYDX tokens already unlocked, dYdX is rolling out a buyback program to pump value back into the ecosystem.

DYDX price has surged by nearly 9% after dYdX announced its new buyback program. The decentralized derivatives exchange will use 25% of the protocol fees to repurchase DYDX from the market.

Decentralized trading exchange dYdX has introduced a token buyback program to strengthen network security and enhance the utility of its native token, DYDX. According to a March 24 announcement, the protocol stated that it would allocate 25% of its net monthly fees to buy DYDX tokens from the open market.

DYdX is allocating 25% of protocol fees to the program, with active governance discussions on an increase to 100%.

Decentralized finance (DeFi) trading platform dYdX announced its first-ever token buyback program on March 24, aiming to reinvest in its ecosystem to enhance security and governance.According to the announcement, 25% of the protocol's net fees will be dedicated to monthly buybacks of its native dYdY (DYDX) token on the open market. Following the announcement, DYDX surged over 10% and was trading at approximately $0.731 at the time of writing, according to CoinGecko.

dYdX updated its roadmap to prioritize faster transactions, stability, and a better trading experience, aiming for expanded assets and advanced features to attract more users The post dYdX Updates Roadmap for Faster Trading and Enhanced User Experience appeared first on Cryptonews.

Decentralized perpetual contracts trading platform dYdX has updated its near-term roadmap which details improvements focused on enhancing speed and user experience as well as rollout of new trading features.

dYdX has announced a new strategic roadmap aimed at strengthening its position in the decentralized derivatives market. With the rapidly evolving landscape, the team is prioritizing platform stability, enhancing user experience, and expanding available trading tools.

dYdX, the decentralized exchange (DEX) token, has witnessed considerable volatility over the years. After reaching its all-time high (ATH) of $4.53, it has struggled to regain its previous momentum, leading many to question its future potential.

Meme coins are a very young phenomenon in crypto. While today, they are largely associated with rug pulls and scams, they can evolve into something more meaningful.

Charles d'Haussy, the dYdX Foundation CEO, projected that September would be the start of a months-long DeFi boom. d'Haussy argued at the Consensus 2025 in Hong Kong that "DeFi Summer" was an inadequate term to describe the upcoming growth.

Charles d'Haussy, CEO of the dYdX Foundation, predicts the DeFi will start to boom in September and will have more entry points for new users than ever.

Charles d'Haussy, CEO of the dYdX Foundation, predicts the DeFi will start to boom in September and will have more entry points for new users than ever.

Decentralized cryptocurrency exchanges processed $1.5 trillion in derivatives volume in 2024.

The dYdX Foundation has announced that a community vote on whether the crypto project can upgrade the dYdX Chain to version 8.0 is now live.

LDO and DYDX are among the top gainers in the past 24 hours as cryptocurrencies look to end the year on a high. This is amid expectations of a further bull market rally in 2025, buoyed by a pro-crypto Donald Trump administration.

The decision was finalized through a community vote, as dYdX proves once again the strength of its decentralized governance model.

A significant whale transaction caught the crypto community's attention. A whale, using the wallet address “0x972,” made a massive swap, shifting from Uniswap (UNI) tokens to DYDX, the native token of the decentralized exchange (dYdX).

DYDX's price action over the next few days could be very interesting.

Kraken has announced upcoming listings for several tokens on December 11 and 12. The exchange will introduce FWOG (FWOG), GOAT (GOAT), and SPX (SPX) on December 11.

Kraken has announced upcoming listings for several tokens on December 11 and 12. The exchange will introduce FWOG (FWOG), GOAT (GOAT), and SPX (SPX) on December 11.

TL;DR dYdX price rises 24% after David Sacks is appointed as AI and crypto “Czar” at the White House. Trading volume increases by 270%, reaching $453 million, and its market capitalization rises to $1.5 billion. Craft Ventures' investment in dYdX and Sacks' appointment as “Czar” generate strong bullish sentiment, with net investment flows surpassing $2.

Today, Bitcoin's price experienced a significant drop from its $100K level, while the altcoin market remained strong. Among the standout performers, the price of dYdX soared over 35%, reaching the $2.5 resistance mark. Triggered by increasing demand and positive news, analysts are bullish that the dYdX price may soon surpass the $3.2 resistance level.

Following the appointment of David Sacks as AI and crypto czar, DYDX saw a 35% price rally, with daily trading volumes surging by 168%, amid links to Sack's venture capital investment firm.

DYDX, the native token of decentralized trading platform dYdX, has become the top-performing altcoin in the last 24 hours. According to CoinGecko, DYDX rallied to this peak after the price increased by 30%.

DYDX, the native token of the decentralized trading platform dYdX, recorded an impressive rally on Nov. 6 following reports of it being backed by Trump's newly appointed White House cryptocurrency advisor.

Popular decentralized exchange (DEX) dYdX — currently offering perpetual trading options for over 35 popular cryptocurrencies — is set to unveil its most ambitious upgrade yet. Labeled ‘dYdX Unlimited,' the update will feature a number of comprehensive enhancements that promise to offer traders increased flexibility while simultaneously providing them with new passive income streams.

November started off very well, with many cryptocurrencies, including Bitcoin, forming new all-time highs. Amidst the chaos, however, some altcoins are getting sidelined and hold the potential to note gains.

The CEO of the dYdX Foundation sees parallels between the internet of the 1990s and where Decentralized Finance (DeFi) is today.

The move is meant to allow the platform to shift back to its core vision as it faces a competitive market.

dYdX Trading, the company behind the decentralized exchange platform, recently announced it has let go of 35% of its workforce.

dYdX announces a strategic shift back to startup mode, aiming to reignite innovation and agility. The decision follows recent layoffs and a re-evaluation of the company's operational structure.

Charles d'Haussy CEO dYdX Foundation told CryptoNews he sees a convergence in centralized exchanges (CEXs) and decentralized exchanges (DEXs) and noted that only 5% of perpetuals are currently traded on-chain. The post dYdX Sees Convergence of CeFi and DeFi and Plans to Launch ‘dYdX Unlimited' appeared first on Cryptonews.

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Dydx, the decentralized finance platform, has announced a significant restructuring, with CEO Antonio Juliano revealing the difficult decision to lay off 35% of its core team as part of a strategic shift to align with the company's evolving goals.