dYdX Reveals Post-Mortem Findings: Identifies Attacker and Considers Legal Measures Decentralized exchange
dYdX has released a post-mortem report detailing the “targeted attack” it experienced on its v3 platform in
November. The attack resulted in a $9 million loss from its insurance fund, which represented approximately 40% of its
total holdings. In the report,
dYdX stated that investigative efforts have successfully uncovered the identity of the attacker and that the company is currently engaged in communication with them. Furthermore, the platform is exploring potential legal actions against the
perpetrator. “dYdX is assisting law enforcement in their investigation of this matter and is assessing all legal options.
dYdX is committed to taking any legal action it deems appropriate in these circumstances.”
According to the findings, the attacker executed a substantial number of 5x leveraged long positions in YFI, the native token of
DeFi protocol Yearn Finance, across more than 100 wallets. By purchasing spot YFI tokens using different addresses, the attacker caused the price to surge by 215%, as revealed by
dYdX.
