DYdX successfully restored version 3.0 of its website after an apparent domain name system (DNS) hijacking attempt on July 23.
The team fully recovered the crypto exchange’s website within three hours after announcing the compromise.
DYdX also warned its users to delete the cache and restart their browser before visiting the website in a July 23 X post:
“dydx.exchange website has been recovered by dYdX Trading Inc. Please note that your machine may still be caching the compromised site. Make sure to clear your cache and restart your browser before connecting to the website.”
The attack on the exchange comes a week after a stole over $230 million from WazirX, an Indian cryptocurrency exchange, in the second-largest cryptocurrency hack of 2024 so far.
Related: WazirX hacker consolidates $57M ETH into new wallets
Only the dYdX website was compromised
The attack on dYdX has only temporarily compromised the exchange’s website, but the rest of the protocol remained unaffected.
The exchange clarified in a July 23 X post:
“A reminder that the dYdX Chain, dydx.trade and the v3 Protocol were never compromised and are safe to use.”
The team added that some wallet extensions, like MetaMask and Phantom, may still display warnings when connecting to the site, but this “should be resolved shortly.”
Related: Funds hacked in 2024 increased by 15.4% vs. the same period in 2023 — Immunefi
Crypto hacks in 2024 could surpass 2023
Crypto hackers are poised for a lucrative year that could potentially surpass the amount of stolen digital assets from 2023.
In the first quarter of 2024, hackers stole digital assets valued at $542.7 million, a 42% increase fro the same period in 2023 — but smart contracts are not to blame.
Hacked funds lost to smart contract vulnerabilities fell 92% to $179 million in 2023, down from a staggering $2.6 billion in 2022, according to Merkle Science’s “2024 Crypto HackHub Report” report.
Instead, over 55% of the hacked digital assets were lost to private key leaks during 2023.
“The biggest security concern right now is the rapid increase in losses due to private key leaks,” Mriganka Pattnaik, co-founder and CEO of crypto risk and intelligence platform Merkle Science, told Cointelegraph.
The total volume of stolen crypto funds in 2024 is approaching $1.4 billion as centralized exchanges emerge as the new ground zero for exploits, according to cybersecurity firm Cyvers’ mid-year Web3 security report.
Magazine: WazirX hackers prepped 8 days before attack, swindlers fake fiat for USDT: Asia Express