GMX disabled trading, minting, and redeeming of GLP on Arbitrum and Avalanche, after its V1 GLP liquidity pool got exploited, to prevent further attacks and protect users.

Quotes that support claims

The team disabled GMX V1 trading, as well as minting and redeeming GLP, on both Arbitrum and Avalanche "to prevent any further attack vectors and protect users from additional negative impacts," and is investigating the cause of the attack.

GMX has now confirmed the exploit, stating that the attack targeted the GLP pool on GMX V1 on Arbitrum, resulting in the loss of approximately $40 million. In response, GMX has disabled trading, minting, and redeeming of GLP on both Arbitrum and Avalanche to prevent further damage.