dYdX Hit With $9M Loss After YFI Attack, Increases Margin Requirements and Bans Profitable Trades
- dYdX increased margin requirements and banned profitable trades after $9M insurance loss from YFI attack
- Attack targeted long YFI positions, spiking open interest from $0.8M to $67M
- dYdX triggered insurance fund to cover $38M in liquidations
- YFI token declined 43% on Nov 17 after gaining 170% in November
- dYdX now offering bounties for info on attacker, reported to FBI