The decentralized exchange GMX has fallen victim to an attack, resulting in hackers withdrawing around $40 million. The incident affected the GMX V1 protocol — the first version of the perpetual platform based on Arbitrum.
The affected GLP pool combines assets such as Bitcoin, Ethereum, and stablecoins, and also serves as the primary liquidity provider.
After the attack, the GMX team suspended trading on GMX V1, as well as the issuance and redemption of GLP tokens on the Arbitrum and Avalanche networks. Users are advised to disable leverage and make adjustments to settings to mitigate further risk.