GMX V1 GLP Pool on Arbitrum Hit by $40M Attack; Trading Suspended to Protect Users

2025-07-09 14:55:21

Main Idea

GMX V1's GLP pool on Arbitrum was exploited for $40 million, leading to a temporary suspension of trading and GLP operations to protect user assets, with no impact on GMX V2.

Key Points

1. GMX V1's GLP pool on Arbitrum suffered a security breach, losing approximately $40 million to an unidentified wallet.

2. Trading on GMX V1 (Arbitrum and Avalanche) was suspended, and GLP minting/redemption halted to prevent further risks.

3. The exploit only affected GMX V1's GLP pool, leaving GMX V2 and its markets/liquidity pools unaffected.

Description

On July 9, GMX disclosed a security breach targeting the GLP pool within GMX V1 on the Arbitrum network, resulting in the unauthorized transfer of approximately $40 million in tokens

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