ChainCatcher news, dYdX posted on X that the smart contracts on dYdX v3 are secure and have not been attacked. Until further notice, users should not withdraw any funds or interact with the website dydx.exchange.Previous news, the dYdX website has been compromised, please do not visit the site or click any links.

ChainCatcher message, the dYdX Foundation announced on social media that Epoch 31 has ended. According to the DIP 29 proposal, trading and LP rewards on V3 have been reduced to 0.In addition, on the dYdX Chain, traders can receive up to 90% of fee rebates as trading rewards, along with incentives for a 6-month term.

ChainCatcher message, dYdX stated on social media that approximately $9 million from the dYdX v3 insurance fund was used last night to fill the gap in the YFI market liquidation. The v3 insurance fund remains sufficiently funded, with a remaining balance of $13.5 million. No user funds were affected, and the team is working hard to investigate the incident.As an immediate measure, dYdX has increased the initial margin requirements for markets with lower liquidity, including EOS, ZRX, AAVE, ALGO, ICP, XMR, XTZ, ZEC, SUSHI, RUNE, SNX, ENJ, 1INCH, CELO, YFI, UMA, and SUSHI.Additionally, high-profit trading strategies have now been prohibited.

ChainCatcher message, the dYdX community has passed the on-chain vote for "DIP 22 - Increase the maximum funding rate (8h) to 4% and fix data errors in the V3 perpetual contract." This proposal aims to raise the maximum 8-hour funding rate for all markets from 0.75% to 4%, and to deploy a fix for the related dYdX V3 perpetual contract to address data availability issues.Previously, Considered Finance published a paper on the impact of existing funding rate limits on the dYdX market. The study identified several instances where the maximum rates were insufficient to incentivize the dYdX market prices to converge with the underlying index prices. This led to inefficiencies in the dYdX market and trading experience. To address this issue, Considered Finance recommended increasing the maximum 8-hour rates from -0.75% and 0.75% to between -4% and 4%. This change will improve the trading experience and reduce the need for manual intervention through margin adjustments.At the same time, a vulnerability was discovered in the current version of the dYdX StarkEx Cairo code. This bug is triggered only in specific cases where a trade results in the collateral balance (i.e., value) being exactly 0 (after paying all fees), and for accounts that still have positions. This could lead to a situation where funds cannot be retrieved once the exchange is frozen, and neither dYdX nor StarkWare can assist users. (Source link)