In what appears to be a possibility of a concerted move, dYdX was crashed resulting in losses of more than $9 million out of the overall insurance fund. Antonio Juliano, CEO of dYdX claimed that this could be a targeted attack effecting each YFI market. On November 18th, dYdX specified on their communications channel that $9 million from their Version 3 Insurance Fund was in use to balance out for the liquidations on YFI Parent market. Even if it did not have an immediate impact on customers’ coins, this enormous loss works up to a total of $13.5 million in the remaining insurance reserves.
In a reaction Antonio Juliano insisted that thestrike was a well-calculated approach involving management as well as control of transparency across the whole $YFI market. Moreover, Juliano was of view that it was predictable that the bankrupted fund owningevil forces aimed to activate plentiful liquidations on loan positions. Clicked by theaffected Insurance account, Investees savings would come crashing below.
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