Hack history / 2023 / Hack or exploit
Dydx
Hack or exploit on Nov 18, 2023 · Risk Parameter Abuse
SOURCES AGREE ON DATE AND LOSS · 4 SOURCES
Lost
$9M
dollars at the time
Returned
none listed
as the sources state it
Rank
#323
among thefts by dollars lost
What happened
On November 17-18, 2023, dYdX V3's insurance fund lost $9M via coordinated market manipulation in less-liquid SUSHI and YFI markets. The attacker built leveraged positions on dYdX, orchestrated spot market price surges, and triggered a liquidation cascade worth $38M notional to drain the insurance fund.
Details
- Date
- Nov 18, 2023
- Kind
- Hack or exploit
- Method
- Risk Parameter Abuse
- How in
- Price, oracle and governance
- Target
- DeFi protocol
- Chains
- Ethereum
After the theft
- Victims reimbursed
- $9M
“On November 17-18, 2023, dYdX V3's insurance fund lost $9M via coordinated market manipulation in less-liquid SUSHI and YFI markets.” (DefiLlama)
Related incidents
dYdX V3 2024 · Hack or exploit · $31K
dYdX 2021 · Hack or exploit · $211K
dYdX 2021 · Hack or exploit · undisclosed
Hyperliquid 2023 · Hack or exploit · $37K
dYdX 2021 · Hack or exploit · $211K
dYdX 2021 · Hack or exploit · undisclosed
Hyperliquid 2023 · Hack or exploit · $37K
Cite this page
SwanBluechip, "Dydx hack, Nov 18, 2023: $9M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/ht01faafee29/ (data as of 2026-10-31).