White Hat’s heroics saved Ethereum-based dYdX from a $2 million security breach
ALTCOINS White Hat’s heroics saved Ethereum-based dYdX from a $2 million security breach.
Some of the major benefits that have seen decentralized exchanges (DEXs) skyrocket in popularity in recent history are security-enhanced privacy and personal monetary sovereignty. Unfortunately, using DEX poses its own set of security risks.
Today, the decentralized crypto-exchange dYdX is hot, but not for the right reasons. It is a non-custodial decentralized exchange that enables users to leverage trades through Ethereum smart contracts. Its daily trading volume on the platform recently increased to nearly $10 billion, surpassing Coinbase and Uniswap.
However, one development may have an impact on this impressive surge. The protocol is making headlines today because it fixed a security flaw before it could be exploited. In a series of tweets, the team addressed the issue.