dYdX founder blames V3 central components for ‘targeted attack,’ involves FBI

Decentralized finance (DeFi) protocol dYdX founder Antonio Juliano took to X (formerly Twitter) to share some of the findings of the investigation into the loss of $9 million in insurance funds, in what many suspected was an exit scam that took place on Nov. 17.

Juliano noted that the actual dYdX chain wasn’t compromised, and the insurance claims of $9 million took place on the v3 chain. The v3 insurance fund was used to fill gaps in liquidation processes in the YFI market.

The protocol co-founder also stressed that dYdX has no plans to negotiate with the exploiters behind the attack and will instead pay bounties to those most helpful in aiding the investigation:

“We will not pay… Read more on Cointelegraph

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