TechFlow news: dYdX posted on X that last night approximately $9 million from the dYdX v3 insurance fund was used to cover the shortfall from YFI market liquidations.
The v3 insurance fund remains well capitalized, with $13.5 million still remaining. No user funds were affected, and the team is actively investigating the incident.
As an immediate measure, dYdX has increased initial margin requirements for less liquid markets, including EOS, ZRX, AAVE, ALGO, ICP, XMR, XTZ, ZEC, SUSHI, RUNE, SNX, ENJ, 1INCH, CELO, YFI, UMA, and SUSHI.
In addition, high-profit trading strategies are now prohibited.
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