Hacker drains $42 million from decentralized perpetual exchange GMX

GMX confirmed GMX V1's GLP pool on Arbitrum experienced an exploit this morning. 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.

July 9, 2025