The exchange has raised margin requirements for several tokens.
dYdX would also no longer permit highly profitable trading strategies.
dYdX, a decentralized cryptocurrency exchange, burned up $9 million of its insurance fund on November 17 to cover customer losses, prompting the exchange to announce additional procedures to reduce trading-related risks.
The exchange has raised margin requirements for several tokens trading in “less liquid markets,” according to a post on Twitter. On November 17th, a lucrative transaction targeting long holdings on the YFI token led to the liquidation of positions worth roughly $38 million, triggering dYdX’s insurance fund to reimburse users’ trading losses.
Ban on Highly Profitable Trading Strategies
Antonio Juliano, the founder of dYdX, called it a “targeted attack” on the platform. According to him, YFI’s open interest in dYdX rose from $0.8 million to $67 million in a couple of days as a consequence of the acts of one person. According
We współpracy z: https://thenewscrypto.com/dydx-implements-risk-mitigation-measures-post-alleged-targeted-attack/
