PeckShield, a blockchain security company, says bad actors have stolen tens or even hundreds of millions of dollars off the decentralized perpetuals GMX exchange (GMX).
PeckShield allows you to post on social media platforms X and Y. says Hacker exploits crypto exchange for $42 Million, sends $9 Million of stolen funds into Ethereum.ETHA network of ArbitrumARB).
“GMX has been exploited for ~$42 million. The exploiter has bridged ~$9.6 million worth of cryptos to Ethereum.”
GMX confirmed The hacker on the company’s own X account claimed that $40 million of its Arbitrum liquidity pool had been drained and sent immediately to an unidentified wallet.
The GLP pool on GMX V1 has been exploited. Approximately $40 million in tokens has been transferred from the GLP pool to an unknown wallet…
Arbitrum, Avalanche and GMX V1 trading have all been blocked to stop any additional attack vectors. This will protect the users and prevent them from experiencing negative effects.”
GMX claims that it is investigating the issue, but the impact of the hack was only on GMX V1. GMX V2, including its liquidity pools and markets, is reportedly not compromised.
The price of GMX has dropped significantly from the weekly high of 14.44 dollars earlier in the day to just $10.77 now, a decline of 22% over the past 24 hours.
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Source: dailyhodl.com
