Decentralized exchange dYdX today published a post-mortem on the “targeted attack” on its v3 platform in November that resulted in a loss of $9 million in its insurance fund, which represented around 40% of its total.

“Investigative results have uncovered the identity of the attacker and we are in contact with them,” dYdX wrote in the post. It is currently examining legal options against the perpetrator.

The platform noted that the attacker opened a significant amount of 5x leveraged long positions in YFI-USD across more than 100 wallets. YFI is the native token for DeFi protocol Yearn Finance. Using different addresses, the attacker purchased spot YFI tokens, causing its price to soar 215%, according to dYdX. 

The attacker snowballed their unrealized profits into more YFI-USD …