Protecting the dYdX community, an introduction

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Hey all! I’m from Blockaid, and we were onboarded by the grants team in 2024 to protect the community against bad actors and wallet drainers. Here’s how we do that and some stats of the protection we’ve provided to date.

First, what is Blockaid?

Blockaid is an onchain security platform that is directly integrated with other apps like Coinbase Wallet, Metamask, Uniswap, Zerion, World App, and more to provide real-time protection against fraud, scams, and hacks.

We do this by detecting and warning users about malicious transactions, dApp connections, and tokens.

For dYdX, we primarily focus on providing protection against malicious dApps that are cleverly disguised as legitimate dYdX projects.

The way it works is our technology continuously monitors the entire web to identify malicious dApps. By indexing websites, scanning for malicious code patterns, and analyzing transaction behaviors, we detect and neutralize threats before they impact dYdX users.

This proactive approach has led to the identification and shutdown of multiple wallet drainer groups responsible for stealing over $100 million annually.

Progress to date

Blockaid identifies sites impersonating the dYdX brand in real-time and alerts every wallet that Blockaid is integrated with, including Coinbase Wallet, Metamask, Zerion, and more.

Since we started working with dYdX, Blockaid has protected the dYdX community from 125 dApps that impersonated the dYdX trading platform and are associated with phishing scams.

While our systems provide significant protection, we recommend taking these additional precautions to keep safe:

  • Enable all available security features in your wallets and on dYdX

  • Access dYdX using a bookmark to the official domain (mistyping and social can take you to fake versions)

  • Be cautious when approving transaction requests and review the transaction simulation details

  • Keep dYdX-specific keys separate from other web3 activities

At Blockaid, we’re committed to creating a secure environment for the dYdX community. Our partnership represents a shared vision of a more resilient ecosystem that protects user assets and maintains trust in the protocol. We’re proud to be contributors to the dYdX community and to help safeguard its future growth.

If you have any questions about our security approach or recommendations, please reach out to the dYdX Support team, who work closely with us to address any security-related issues.

Stay safe onchain!

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Hello, @0xRion

Could you please publish information about the threats that have been addressed, malicious domains, attack vectors targeting dYdX users, and so on? A public GitHub repository would be fine.

  1. This would be useful for educational purposes, helping users better understand potential threats.
  2. It would serve as a report on your nearly yearlong collaboration.

Thank you!

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