[LIVE] Suspected Exploit Hits GMX Exchange: Over $42M Drained from Vaults – DeBank Reports

Key Points

1. GMX experienced a suspected exploit, with over $42 million in digital assets drained from its vaults and transferred from Arbitrum to Ethereum.

2. Blockchain security firm PeckShield reported that around $9.6 million worth of crypto assets were already bridged to Ethereum by the attacker.

3. The GMX token (GMX) price dropped sharply to $12.51 following the incident.

4. Community members and analysts are concerned about the likelihood of fund recovery as the attacker continues to move the stolen assets.

5. This incident is one of the larger DeFi-related exploits of the year, with further updates expected from the GMX team.