$GMX
🚨 GMX HACKED: $42M EXPLOIT SHAKES ARBITRUM DEFI! 🚨
Binancians, one of DeFi’s heavyweights just took a serious hit — GMX V1 on Arbitrum suffered a $42M security breach via a re-entrancy attack targeting the GLP pool. 😨🔓
📉 Price Action Snapshot:
• Token plunged -20% to $11.11, now stabilizing around $12.48 (-11.49%)
• $9.6M of stolen funds already bridged to Ethereum
• Key support zone: $11.50–$12.00 — eyes on that bounce ⚠️
🔍 What Happened?
A vulnerability in GMX's price calculation logic opened the door for the exploit.
The devs responded fast — trading halted, patch in progress, and…
💰 A $4.2M White Hat Bounty is on the table if the attacker returns the funds within 48 hours — no legal action guaranteed. 🕊️
🔧 What's Next?
• Recovery depends on whether bounty negotiations succeed
• GMX V2 upgrades could restore trust and improve protocol security
• Market watching attacker wallet (0xd426...60f3) for any sudden moves
📊 Binance Traders — Key Takeaways:
• High-risk = high-reward territory for brave swing traders
• Monitor recovery progress, V2 rollouts, and community sentiment
• DeFi security is in the spotlight — risk management is king 👑
🛡️ This is a stress test — not the end.
GMX's future depends on how they respond now. Volatility = opportunity — if you know how to play it.
📍 Trade smart. Watch sharp. Only on Binance.
