dYdX founder claims targeted attack led to $9M insurance claim By Cointelegraph

Decentralized exchange (DEX) dYdX was forced to use its insurance fund to cover $9 million in user liquidations on November 17. According to For dYdX founder Antonio Juliano, the losses were the result of a “targeted attack” against the stock market.

According to reports from the dYdX team on The (YFI) the token fell 43% on November 17 after climbing over 170% in previous weeks. The sudden drop in prices raised concerns within the crypto community about a possible exit scam.

Balance changes on the dYdX insurance portfolio. Source: DYDX Explorer