dYdX V3 Hacked Amid Sale Rumors

Decentralized perpetual exchange dYdX reported on Tuesday that one of its on-chain trading platforms has been compromised.

The team has warned users to refrain from accessing dydx.exchange until further updates are provided.

dYdX v3 Platform Compromised

The breach specifically targets dYdX v3, an older version of the platform that handles approximately $1.5 billion in derivatives trading volume weekly. In a tweet, the team confirmed that the website for v3 “has been compromised”.

dYdX also cautioned users against clicking on any URLs. Shortly after the news broke, links to phishing sites began appearing in the comments.

The attack does not seem to affect traders’ funds. Statements in Discord indicate that hackers targeted only the website, not the smart contracts.

Read more: Crypto Project Security: A Guide to Early Threat Detection

The issue surfaced shortly after Bloomberg reported that dYdX v3 is up for sale. Major market makers like Wintermute Trading Ltd. and Selini Capital want to buy some of its derivatives trading software for an undisclosed amount.

On July 11, BeInCrypto reported that hackers targeted the websites of DeFi platforms Celer and Compound. The breaches raised alarms within the DeFi community, as both platforms warned users to avoid their sites.

Read more: Top 5 Flaws in Crypto Security and How To Avoid Them

Vulnerabilities in Squarespace’s registrar services seem to link to the attacks. Security experts advised other DeFi platforms to be cautious, as around 65 other domains, including dYdX, could be at risk.