GMX V1 Security Incident: $42M Secured, $5M Bounty Paid
GMX V1 Security Incident: $42M Secured, $5M Bounty Paid
馃毃 White Hat Saves $42M
A security vulnerability in GMX V1's codebase led to a potential exploit risk of $42M from GLP holders. The issue was related to short average price calculations specific to V1.
Key updates:
- Funds successfully secured by white hat 0xDF334...5221
- $5M bounty paid, remaining funds in GMX Security Multisig
- V2 remains unaffected
- Trading, minting, and redeeming disabled on V1 (Arbitrum & Avalanche)
GMX team is preparing a distribution plan for affected users through the DAO. A detailed post-mortem analysis will be released once the investigation concludes.
There was a security vulnerability in the GMX V1 codebase that was disclosed. GMX V1 forks were also safely notified. We would like to recognise the actions of 0xDF3340A436c27655bA62F8281565C9925C3a5221 in this recovery. A potential exploitable amount of $42 million belonging to
URGENT: for all GMX V1 forks, GMX V1 has been exploited. The issue could potentially be mitigated by doing the below: 1. Disable leverage: this can be done by setting Vault.setIsLeverageEnabled(false) or, if Vault Timelock is used, by setting
The GLP pool of GMX V1 on Arbitrum has experienced an exploit. Approximately $40M in tokens has been transferred from the GLP pool to an unknown wallet. Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security
Our initial analysis of today鈥檚 GLP exploit, conducted in collaboration with our security partners and lead auditor, still confirms that the attack vector is specific to GMX V1. The manipulation involved relates to the calculation of the short average price on V1, and the same
The GLP pool of GMX V1 on Arbitrum has experienced an exploit. Approximately $40M in tokens has been transferred from the GLP pool to an unknown wallet. Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security
The GLP pool of GMX V1 on Arbitrum has experienced an exploit. Approximately $40M in tokens has been transferred from the GLP pool to an unknown wallet. Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security
GMX Launches PUMP/USD Perpetual Trading Market
GMX has launched a new synthetic perpetual swap market for PUMP/USD trading on Arbitrum. Key features include: - Trade directly from your wallet with up to 50x leverage - Long or short positions available on Pump.fun token - Fast execution speeds on Arbitrum network Liquidity providers can: - Deposit BTC or USDC in GM: PUMP/USD pool - Earn fees from trading and market-making activities - Access GLV: [BTC-USDC] liquidity vault Trading is now live at [app.gmx.io](http://app.gmx.io)
GMX Expands Spot Trading Options on Arbitrum
GMX has expanded its spot trading offerings on Arbitrum, now including XRP and DOGE exposure through Toros integration. This follows their earlier launch of GMX/USD perpetual and spot markets on GMX V2. Key updates: - New spot pairs: XRP/USD and DOGE/USD - Available through Toros on Arbitrum network - Users can provide liquidity using GMX or USDC - Features low fees and self-custody trading Trade these new markets at [app.gmx.io](http://app.gmx.io)
GMX Revenue Surge Leads to Delayed Token Buybacks
GMX experienced a significant revenue increase, causing its buyback-and-distribute contract to face processing delays. The remaining balance will roll over to future weekly epochs for distribution to GMX holders. Key points: - Buyback process is fully transparent and verifiable on-chain - Affects both Arbitrum and Avalanche networks - Contract addresses: - Arbitrum: [View on Arbiscan](https://arbiscan.io/address/0x7EB417637a3E6d1C19E6d69158c47610b7a5d9B3) - Avalanche: [View on Snowtrace](https://snowtrace.io/address/0x1A3A103F9F536a0456C9b205152A3ac2b3c544902)
GMX Rolls Out Stop Market Orders and Enhanced Trading Features
GMX has implemented several key trading improvements: - Added Stop Market Orders support - Enabled chart-based drag & drop order editing - Optimized swap routing for spot and perpetual trades - Enhanced Trade UI with new dropdowns and clearer chart headers - Improved mobile experience with 24h volumes and position cards - Updated number formatting with k, m, b suffixes - Enhanced depth charts and PnL analysis - Clarified network fee calculations For feedback or support: [Telegram](https://t.me/GMX_IO) [Discord](https://discord.gg/H5PeQru3Aa) Learn more about GMX's 2025 roadmap on their [blog](https://gmxio.substack.com/p/gmx-development-plan-for-2025)