#GMXCoin
PLATFORM WAS HACKED
• $42 million exploitation directed at GMX V1 on Arbitrum (July 9, 2025)
• The GLP liquidity fund was drained, causing a price drop of 17-28% to $10.30.
• Partial recovery to $11.78 after the team announced remediation plans.
• The V2 platform remains secure and operational.
Technical Details
• The attacker used Tornado Cash with a malicious contract to manipulate the minting of GLP.
• Primarily stole USDC, DAI, WBTC, and ETH before making cross-chain transfers.
• The GMX team offered a 10% bounty ($4.2 million) with a 48-hour deadline for the return.
• Trading on V1 has been halted while a full security audit is conducted.
GMX
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