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Cryptocurrency News Articles
dYdX v3 Trading Service 'Compromised,' Exchange Warns Users
Jul 24, 2024 at 12:20 am
Decentralized crypto-exchange giant dYdX said Tuesday that one of its on-chain trading services has been "compromised" and warned users against visiting
dYdX, a decentralized crypto-exchange, said Tuesday that one of its on-chain trading services has been compromised and warned users against visiting dydx.exchange until further notice.
Specifically, the website for dYdX v3, an older version of its trading platform that averages around $1.5 billion in weekly derivatives trading volume, "has been compromised," per a tweet.
The attack does not appear to be impacting funds traders already have on dYdX, as only the web domain – and not the underlying smart contracts – appear to be being targeted, according to statements in dYdX's Discord server.
"The attacker has taken over the v3 domain (dydx.exchange), and deployed a copy-cat website that when users connect their wallets to it, it asks them to approve via PERMIT2 transaction to steal their most valuable token," a member of dYdX's community team said in the project's Discord server.
The larger dYdX v4 venue (which last week saw $6 billion in trading volume) is also remaining unaffected.
The news comes just after Bloomberg reported that dYdX v3 is up for sale, with interested buyers including major market maker Wintermute.
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- NYC's New Beat: Staking Systems, USD1, and Governance Drive Crypto's Next Wave
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