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
Latest News
- Dogecoin Shows Potential to Break Six-Year Bearish Trend Amid Rising Q3 Momentum2025-07-19 15:32:53
- FHFA Directive on Bitcoin in Mortgage Risk Assessments May Overlook Self-Custodied Assets and Increase Counterparty Risk2025-07-19 15:17:05
- SharpLink Gaming and Others May Expand Ethereum Holdings Amid Rising Corporate Accumulation Trends2025-07-19 15:16:47
- XRP Price Could Potentially Enter Parabolic Rally Amid Key Resistance Tests and Technical Signals2025-07-19 15:04:57
- Stellar Lumens (XLM) Shows Bullish Flag Breakout, Potentially Targeting $1 Amid Market Recovery2025-07-19 15:03:42