Just to clarify this point, the LSM is not deployed on dYdX Chain nor on Stride. It’s only deployed on the Cosmos Hub and doesn’t impact DYDX liquid staking in any way.
Each of these chains’ staking modules are isolated systems. Any risks related to the LSM would only be applicable to staked ATOM that became tokenized via the MsgTokenizeShares function on the Cosmos Hub (a very small subset of staked ATOM).
Saying that the LSM on the Cosmos Hub puts dYdX at risk is comparable to saying the radiant capital hack last week puts dYdX at risk. The two are entirely unrelated.