dYdX v3 hacked during critical sales negotiations!
It seems that the season of crypto is the season of Hack. Just after the hack of WazirX last week, now dYdX, the biggest name in decentralized trading, has become a victim of a hack. Their v3 platform is hacked! Yes, this comes amid rumors of a similar version being sold. With more than $1.5 billion worth of transactions happening every week, the world of DeFi is booming.
Targeted Attack: What's Going Down?
On July 23, DIDX released the news on social media. Their v3 platform? It is stacked. Users have received a big red alert: do not visit the site or click on any links. The hack has hit the user interface, leading to serious phishing scares. Modern contracts are safe, but that doesn't mean everything is safe.
Cointelegraph journalists tried to access the hacked site with an experimental Ethereum account. guess what? Hit a shady error message. It appears to be a scam where users' wallets ran dry earlier this year. Now, everyone is on edge as this hack might be pulling the same nasty trick.
Sales pitches and market influence: Coincidence or conspiracy?
Now here's the problem! Just as news of the hack hit, Bloomberg reported that the dYdX v3 was set to go on sale. There have been many players looking into this phenomenon in Crypto and among them companies like Wintermute Trading Ltd and Selini Capital are looking at the trading software. Although dYdX has moved to v4 on Cosmos, the old v3 is still a hot product due to its high fluidity and low sliding speed.
And then, the dYdX token nosedived over 10%. The breach has thrown a wrench into sales talks, leaving investors and consumers extremely nervous. Is this just bad timing or is someone trying to screw things up before a big deal?
What should you do now?
It is advisable to stay away from the dYdX v3 website. Do not click on any links until you fix this mess. Your finances may be safe for the time being, but things are fragile. This hack is part of a larger wave hitting DeFi platforms like Celer and Compound. Cyber threats are becoming more sophisticated and sophisticated.
As dYdX investigates what happened, stay tuned to their official channels for updates. Protect your crypto assets and be proactive. Daffy's world is now wild and uncharted. Stay safe, stay informed and remember: you should always watch your back.
