dYdX denied rumors of mass blocking of users from Russia

According to the exchange’s representatives, they have no plans to impose restrictions

26.04.2022 - 11:10

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What’s new? dYdX, a decentralized crypto exchange, will not block users with Russian IP addresses, The Block reports. The rebuttal is published amid rumors that surfaced online on April 25. The blockchain developer, banteg, posted a screenshot on Twitter saying that the user is trading from a region that violates the platform’s terms of use and has previously been blocked.

News on The Block’s website

What other statements have been made? The representatives of dYdX reported that they have no plans to take steps to block Russian users. The exchange’s services remain inaccessible for countries such as Iran, North Korea, Cuba, Myanmar, Syria, as well as for residents of Donetsk, Luhansk, and Crimea. The platform’s terms of use also warn against using a VPN to bypass restrictions.

What is known about dYdX? It is a decentralized exchange for margin trading of digital assets and open-ended contracts. It offers exchange, trading, and lending services. The platform runs on smart contracts on the Ethereum network. Transactions are done between users directly.

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