GMX Recovers $42 Million GLP Funds on Arbitrum After V1 Vulnerability Attack

2025-07-16 13:07:37

Main Idea

GMX has recovered $42 million in GLP funds on Arbitrum after a V1 vulnerability attack and is preparing a distribution plan to reimburse affected liquidity providers.

Key Points

1. GMX disclosed updates on July 16 regarding a security breach that compromised $42 million in the GMX V1 protocol on Arbitrum.

2. The affected assets in the GLP pool on Arbitrum were successfully reclaimed after negotiations and are currently held in custody.

3. The DAO is preparing a structured distribution plan to reimburse liquidity providers in the Arbitrum GLP vault.

Description

On July 16, GMX disclosed critical updates following the recent security breach that compromised approximately $42 million in the GMX V1 protocol on the Arbitrum network. After extensive negotiations, the

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