The decentralized derivatives exchange recently came under fire for blocking some accounts linked to Tornado Cash following the Treasury Department’s ban. It reneged on the blocks days later.
dYdX Scores Own Goal
dYdX has made yet another blunder—and it’s facing the crypto community’s wrath as a result.
The decentralized exchange advertised a new promotion this week, asking users to confirm their identity with a webcam to be eligible for a $25 promotional offer. Users who deposit at least $500 on their first transaction are eligible to receive a $25 bonus, but they must show their face with a webcam first.
Described as “liveness checks” on the dYdX blog, the team said it was conducting the checks to prevent people from taking advantage of the offer multiple times over. The post explained that as Ethereum addresses serve as accounts for DeFi apps like dYdX, “it is quite difficult for a dApp to offer promotions without being Sybil-attacked.” It added that it had decided that webcam...
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