Published On: Tue, 23 Jul 2024 23:57:50 GMT

dYdX V3 Hacked Amid Sale Rumors

dYdX's v3 platform compromised; users advised to avoid the website and links. The breach coincides with sale rumors involving major market makers. User funds remain safe.

Tanishq Bodh News

Jul 23, 2024

Author: Tanishq Bodh

dYdX V3 Platform Compromised

On Tuesday, decentralized perpetual exchange dYdX reported a breach of one of its on-chain trading platforms. The compromise specifically targets dYdX v3, an older version of the platform that handles approximately $1.5 billion in derivatives trading volume weekly. The team has warned users to refrain from accessing exchange until further updates are provided. In a tweet, the team confirmed that the website for v3 “has been compromised”.

User Advisory

dYdX has cautioned users against clicking on any URLs associated with the platform. Shortly after the news broke, links to phishing sites began appearing in the comments. The attack does not seem to affect traders’ funds. Statements in Discord indicate that hackers targeted only the website, not the smart contracts.

Coincidence with Sale Rumors

The issue surfaced shortly after Bloomberg reported that dYdX v3 is up for sale. Major market makers like Wintermute Trading Ltd. and Selini Capital are interested in acquiring some of its derivatives trading software for an undisclosed amount.

The team continues to investigate the breach and has promised to provide updates as they become available. Users are advised to stay vigilant and follow official channels for the latest information.

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