Security incident · 2023-11-18
dYdX V3
According to the public DefiLlama incident dataset, dYdX V3 (Ethereum) suffered a security incident on 2023-11-18, with about $9.0M reported lost.
| Date | 2023-11-18 |
|---|---|
| Reported loss | $9.0M |
| Chain | Ethereum |
| Target type | DeFi Protocol |
| Technique class | Market Manipulation |
| Technique | Risk Parameter Abuse |
| Bridge incident | No |
| Within 2023 | #25 by loss that year, 0.6% of all reported losses that year |
How this kind of attack works
The attacker moved prices in a thin market and profited from protocols that relied on those prices.
Would a pre-payment check have helped
Market manipulation is a liquidity and market-design problem.
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