Decentralized crypto exchange dYdX has implemented new measures to address trading-related risks after losing $9 million from its insurance fund. The exchange has increased margin requirements on certain less liquid markets, affecting tokens such as Eos, 0x Protocol, Aave, Algorand, Internet Computer, Monero, Tezos, Zcash, SushiSwap, THORChain, Synthetix, Enjin, 1inch Network, Celo, Yearn.finance, and Uma. The insurance fund was triggered to cover losses resulting from a profitable trade targeting long positions on the YFI token, which led to the liquidation of positions worth nearly $38 million. The founder of dYdX referred to this incident as a “targeted attack” and mentioned that the same individual had attempted to attack the SUSHI market previously. The exchange has now banned highly profitable trading strategies. dYdX is offering a bounty payment for valuable information. The YFI token experienced a sharp decline of 43% in just a few hours, erasing over $300 million in market capitalization. However, the token has still gained over 90% in the past 30 days. The Yearn.finance team has not provided official details about the incident, but it has been confirmed that developers do not control the majority of the token supply. Large centralized exchanges are listed as the top holders of YFI tokens.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	Antonio Juliano, Avraham Eisenberg
Companies	Yearn.finance, Monero, Tezos, Algorand, Eos, SushiSwap, Celo, THORChain, Cointelegraph, Uma, Enjin, dYdX, Mango Markets, Etherscan, X (formerly Twitter), 0x Protocol, Avraham Eisenberg, Aave, Synthetix, Zcash, 1inch Network, Internet Computer, CoinMarketCap, Yearn.finance team
Currencies	EOS, 0x Protocol, yearn.finance, Algorand, Aave
Securities	None