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anchored·28qRV9…FfpPSummary
dYdX V3 was a decentralized perpetual futures exchange built on Ethereum using StarkWare's StarkEx Layer-2 technology, operated by dYdX Trading Inc. The platform suffered a $9 million insurance fund drain in November 2023 due to an alleged coordinated market manipulation attack targeting YFI and SUSHI markets, a DNS hijacking attack in July 2024, and a software supply chain compromise in September 2022. The V3 product was formally sunset on October 28, 2024, with trading migrated to the dYdX Chain (V4) on Cosmos.
Connected Entities
5 entities · 60 linked investigations- Wintermute→mentioned with→Ethereum(70%)
- Hyperliquid→mentioned with→Ethereum(70%)
- dYdX V3→mentioned with→Cosmos (ATOM)(70%)
- dYdX V3→mentioned with→Wintermute(65%)
- Cosmos (ATOM)→mentioned with→Ethereum(65%)
- dYdX V3→mentioned with→Ethereum(70%)
- dYdX V3→mentioned with→Hyperliquid(60%)
Timeline(11 events)
23 September 2022
dYdX staff member's npm account hijacked; malicious versions of 'solo' and 'perpetual' packages published with credential-stealing code affecting at least 44 crypto projects.
Bleeping Computer / Mend29 October 2023
First phase of the market manipulation attack begins on dYdX V3; attacker uses 132+ linked wallet addresses to build leveraged SUSHI long positions while purchasing SUSHI spot to inflate the price approximately 180%.
dYdX Official Blog9 November 2023
Second phase of the attack targets YFI on dYdX V3; YFI open interest spikes from $0.8 million to $67 million; YFI price rises approximately 215% from ~$6,500 to over $14,000 by November 17.
dYdX Official Blog18 November 2023
YFI price crashes approximately 30% within one hour; forced liquidations trigger a $9 million draw on the dYdX V3 insurance fund (~40% of total V3 insurance reserves); attacker withdraws approximately $27 million total.
CoinTelegraph / The Block19 November 2023
dYdX founder Antonio Juliano publicly attributes the $9M insurance loss to a targeted attack; FBI involvement confirmed; margin requirements raised to 100% for affected markets.
CoinTelegraph13 May 2024
Antonio Juliano steps down as CEO of dYdX Trading Inc.; Ivo Crnkovic-Rubsamen appointed CEO.
CoinDesk23 July 2024
dYdX V3 web frontend compromised via DNS hijacking through Squarespace registrar; counterfeit site deploys PERMIT2 wallet drainer; smart contracts unaffected; dYdX resolves DNS redirect same day.
Bleeping Computer / CoinDesk28 October 2024
dYdX V3 trading, oracle price updates, and funding payments cease at 12:05 PM UTC; V3 officially sunset; Ethereum smart contract set to frozen on October 30.
Live Bitcoin News29 October 2024
dYdX CEO Juliano announces 35% workforce reduction, citing competitive pressures and declining TVL from $500M to $287M; company promises strategic pivot.
CoinDesk27 January 2026
Socket researchers discover malicious versions of dYdX V4 npm and PyPI packages containing wallet stealers and a RAT; dYdX acknowledges the supply chain compromise and urges developers to isolate affected machines.
The Hacker News / SocketDecision Log
- hash: AFJzKRjLWq7EHdbsZ42ZNJkHqcYsTvnHzbYhTzHzJM9o
- hash: Gd4vBs2goE6Y4injpAj4593iZe9aJkN1vDX88YW16keb
- hash: Dv18N8uNCCH1UEhqLP5u2oVr4Zwh2B8AZHh9nBHBgQ9
This investigation is cryptographically anchored to the Solana blockchain (3 events). 14 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:37 AM
last updated: 7/26/2026, 10:10:38 PM
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