dYdX started blocking users with Russian IP addresses

The decentralized crypto exchange warned against using virtual private networks (VPNs) to circumvent restrictions

25.04.2022 - 16:00

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What’s new? dYdX, a decentralized crypto exchange, has started blocking users with Russian IP addresses. 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.

Source: Twitter.com

Who else is banned from using the platform? Users from Iran, Syria, North Korea, Cuba, Myanmar, Donetsk, Luhansk, and Crimea are banned from using dYdX, according to the platform’s terms of use. Russia is not specifically mentioned in the list, but service restrictions apply to other jurisdictions that are currently subject to the US government’s sanctions. The platform’s terms of use also warn against using a VPN to circumvent the 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.

What had happened before? Since March 15, a decentralized crypto exchange aggregator, Matcha, started blocking transactions originating from users with Russian IP addresses.

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