GMX Exchange Faces Challenges, But Bounces Back Strongly
2025-07-11 10:59:37
Main Idea
GMX exchange recovered after a hack attack, with the attacker returning stolen funds following a bounty offer, leading to a resurgence in GMX coin's value.
Key Points
1. GMX exchange suffered a hack where $40 million was stolen from its V1 GLP pool on Arbitrum due to a re-entrancy vulnerability.
2. The attacker accepted a $5 million bounty offer and returned $10.5 million in FRAX coins to GMX's developer wallet.
3. GMX V1 transactions on Arbitrum and Avalanche were suspended post-attack as part of the response.
4. Following the refund news, GMX coin's price increased by 17% after hitting a low of $10.45 post-attack.
5. GMX has hosted a total trading volume of $306 billion and an open position of $265 billion since its launch in 2021.
Description
GMX exchange saw an activity surge after a recent hack attack recovery. The hacker returned $10.5 million in FRAX coins, starting the refund process. Continue Reading: GMX Exchange Faces Challenges, But Bounces Back Strongly The post GMX Exchange Faces Challenges, But Bounces Back Strongly appeared first on COINTURK NEWS .
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