Cyber Intrusion Strikes GMX Platform with Significant Financial Loss
Main Idea
The GMX DeFi platform suffered a cyber intrusion leading to a $40 million loss, causing a 20% drop in GMX Coin's price, while Bitcoin remained stable.
Key Points
1. The GMX platform was compromised, resulting in a $40 million withdrawal from the protocol.
2. GMX Coin's price dropped by 20%, falling from approximately $14.5 to below $12, currently around $12.5.
3. Bitcoin's price remained stable at $109,548 during the incident.
4. The GMX team has not yet released an official statement regarding the hack.
5. GMX, a dominant DeFi platform in 2021, had a 7-day fee revenue of $1 million and has generated $435 million to date.
Description
GMX platform experienced a significant hacking incident resulting in a $40 million loss. Suspicion arose due to unusual on-chain activities, leading to a drastic coin price drop. Continue Reading: Cyber Intrusion Strikes GMX Platform with Significant Financial Loss The post Cyber Intrusion Strikes GMX Platform with Significant Financial Loss appeared first on COINTURK NEWS .
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