dYdX (Native)

A <a href="https://dydx.exchange/blog/dns-nameserver-hijacking-postmortem?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">dYdX</a> post-mortem has revealed that two users lost approximately $31,000 in its recent DNS (Domain Name System) hijack.According to dYdX, on July 23, 2024, the &#34;dYdX.exchange&#34; domain was compromised when an attacker changed the DNS nameservers and removed the <a href="https://www.cloudflare.com/dns/dnssec/how-dnssec-works/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">DNSSEC</a> which is supposed to act as a layer of trust on top of the DNS by providing authentication.dYdX immediately contacted <a href="https://www.blockhead.co/tag/squarespace/" rel="noopener noreferrer nofollow">Squarespace’s</a> customer support, who restored domain possession and fixed the DNS nameserver resolution within a few hours, despite a 30-minute delay due to third-party vendor maintenance.During this delay, the attacker hosted a malicious site, requesting connected wallets to send ETH or any ERC20 token to the attacker&#39;s address. At the same time, dYdX worked with <a href="https://securityalliance.org/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">SEAL</a> to blacklist the site from crypto wallets such as <a href="https://www.blockhead.co/tag/metamask/" rel="noopener noreferrer nofollow">Metamask</a> and <a href="https://www.blockhead.co/tag/phantom/" rel="noopener noreferrer nofollow">Phantom</a>.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/66215a7b1f124e2d9dc51aebbf214c2c.jpg" />Source: https://cointelegraph.com/news/dydx-v3-compromised-apparent-dns-attack?Unfortunately, two users lost their funds by interacting with the compromised site and dYdX is working with the victims to recover the funds.&#34;2 users were affected with approximately $31,000 in lost funds due to this attack. dYdX trading is in contact with both affected users and is assisting in securing their wallets and is committed to recovering funds,&#34; dYdX explained.Although the identity of the attacker is unknown, they seem to be a fairly skilled actor. The postmortem analysis raises the potential of a social engineering attack because the perpetrator deliberately selected a human-believable email address.Earlier this month, the decentralized finance (DeFi) ecosystem was rocked by a massive DNS hijacking incident that targeted multiple DeFi applications.The attack, traced back to a vulnerability in Squarespace’s domain registry, compromised numerous DeFi platforms, including Compound Finance and Pendle Finance.<a href="https://www.blockhead.co/#/portal/signup/free" rel="noopener noreferrer nofollow">Join Blockhead today for FREE and stay in the loop on digital assets!</a>

dYdX Post-Mortem Reveals Two Users Lost $31K in DNS Hijack

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