dYdX Shuts Token Bridge Leaving 45,000 Holders Stuck With $25 Million

dYdX Shuts Token Bridge and Leaves Holders Stuck

Decentralized exchange dYdX is under fire after it permanently closed the bridge for migrating ethDYDX tokens to the native dYdX Chain on June 13, 2025. The closure left around 45,000 holders unable to convert more than $25 million worth of tokens.

One community member summed up the frustration: “Thousands of retail investors suddenly found themselves holding assets they can’t use or trade. In our group alone, people lost more than $200,000 in value.”

The bridge shutdown had been approved in a December 2024 community vote, where participants decided to end support for the wethDYDX smart contract. After a six-month transition period, support officially ended.

As a result, ethDYDX tokens can no longer be traded, listed on decentralized (DEX) or centralized exchanges (CEX), or migrated to native DYDX. Any attempt to use the old bridge now results in tokens being permanently locked.

Supply Cut After Migration Deadline

According to official figures, more than 41.6 million ethDYDX tokens were left unmigrated at the time of closure. These tokens have now been excluded from both the total and circulating supply.

This adjustment reduced the total DYDX supply to 958.3 million, while the circulating supply now stands at 750.2 million.

For affected investors, the only path forward is the dYdX governance forum, where a proposal is being discussed to reopen migration for ERC-20 DYDX. Meanwhile, community initiative groups on Telegram are coordinating actions to lobby for a solution.

One activist explained:

It’s not the first time dYdX has made headlines. In August 2024, the team unveiled dYdX Unlimited, a new platform allowing liquidity provision through MegaVault — a move that was celebrated at the time as a step toward greater adoption.