Decentralized
Security Breach at dYdX Exchange Version 3.0
Wednesday. July 24 at 8:00 AM
1 min. readThe team behind the crypto exchange dYdX announced on July 23 that their version 3.0 website has been compromised. Users are advised not to visit the v3 website or click any links. However, the team assured that version 4.0 on Cosmos remains secure. While the user interface for v3 is affected, the smart contracts are intact, ensuring deposited funds are safe. Cointelegraph's attempt to access the compromised site with a test account revealed an error message similar to a previous phishing scam. The incident highlights the growing threat of DNS hijacking in Web3 protocols. Recent attacks on Compound Finance and Celer Network serve as cautionary tales. As investigations continue, more details on the breach are awaited. In the world of crypto, security breaches like this underscore the importance of safeguarding digital assets.