PANews July 10 news, GMX officially disclosed the reason and subsequent measures for the approximately $40 million attack on GMX V1 on the Arbitrum chain on July 9. After analysis by the security team, the attack originated from a reentrancy vulnerability in the OrderBook contract, which the hacker exploited to manipulate the average price of BTC shorts, significantly increasing the price of GLP and profiting from it. The official has suspended related transactions on the Avalanche chain, confirmed that the V2 version is not affected, and will take measures such as disabling GLP minting and redemption, and establishing a compensation pool. GMX reminds V1 fork projects to promptly fix similar risks.
