Decentralized derivatives exchange GMX has confirmed a $42 million exploit targeting its GMX V1 GLP pool on Arbitrum, prompting a temporary shutdown of trading and a white-hat bounty offer to the attacker.
$42 Million Drained From GMX V1 GLP Pool
In a significant security incident, an attacker has drained approximately $42 million from its GMX V1 GLP liquidity pool. The exploit, which occurred early Wednesday, prompted the exchange to halt trading and disable minting and redemption of GLP tokens on both the Arbitrum and Avalanche networks as a precautionary measure.
According to an official statement, the attack impacted only GMX V1 and its GLP pool. The platform confirmed that its GMX V2 markets, liquidity pools, and native GMX token remained unaffected by the breach.
Exploit Method and On-Chain Activity
Initial on-chain analysis revealed that the attacker systematically drained funds from the GLP pool, converting assets from USDC to ETH and subsequently to DAI. Additiona
We współpracy z: https://cryptodaily.co.uk/2025/07/42m-stolen-in-gmx-v1-exploit-as-exchange-shuts-down-trading
