dYdX, a decentralized exchange, experienced a substantial security compromise related to its v3 protocol. A hacker infiltrated the authorized website of dYdX v3 by implanting token-draining software, which has the potential to divert customers’ cash.
The hijacked website exhibited error messages resembling prior phishing scams, with the intention of deceiving customers into divulging their wallet information. The exchange posted a cautionary message on social media, recommending users refrain from accessing the impacted site or clicking on any related links.
In addition, the team said that the v4 version of the protocol, which functions on the Cosmos blockchain, is untouched and is operating at full capacity. The assault primarily targeted the dYdX v3 interface, which is hosted at dydx.exchange.
dYdX is engaged in negotiations to sell its derivatives trading division, with Wintermute Trading and Selini Capital being considered potential purchasers.
The corporation is currently under the leadership of its former CEO, Ivo Crnkovic-Rubsamen. dYdX released its v5 update in June, which brought about the addition of new functionalities such as segregated margins and markets, as well as the inclusion of support for Raydium Markets. The breach of dYdX v3 reveals a concerning pattern in the Web3 industry, where DNS hijacking assaults are growing more prevalent.
