dYdX User Funds Not Affected by YFI Hack, Says dYdX Founder

YFI

Antonio Juliano shared that no user funds were lost in the latest YFI hack.
In the post, Juliano revealed that he believes this attack was an intentional attempt to drain funds from the dYdX insurance pool.
dYdX’s founder also stated that the attacker attempted an unsuccessful attack on the dYdX SushiSwap (SUSHI) market 2 weeks ago.

The founder of dYdX, Antonio Juliano, shared an update regarding the hack that dYdX suffered over the past few days. According to an X post published yesterday, no user funds have been lost.

Here are the main points we know about the $YFI incident on dYdX so far:

Reminder no user funds have been lost, but it is critical we understand what happened and adjust accordingly

– in the part few days $YFI open interest on dYdX spiked from $0.8m -> $67m
– basically all of…
— Antonio | dYdX (@AntonioMJuliano) November 18, 2023

Leading up to the incident, open interest for yearn.finance (YFI) spiked from $0.8 million to $67 million. Juliano is confident that this spike was driven by one malicious actor in an “intentional market manipulation attempt by a well capitalized actor(s) designed to drain funds from the dYdX insurance pool”.…

The post dYdX User Funds Not Affected by YFI Hack, Says dYdX Founder appeared first on Coin Edition.

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