{"id":25214,"date":"2025-07-09T18:37:44","date_gmt":"2025-07-09T15:37:44","guid":{"rendered":"https:\/\/forklog.com\/en\/hacker-breaches-gmx-dex-for-42-million\/"},"modified":"2025-07-09T18:37:44","modified_gmt":"2025-07-09T15:37:44","slug":"hacker-breaches-gmx-dex-for-42-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hacker-breaches-gmx-dex-for-42-million\/","title":{"rendered":"Hacker Breaches GMX DEX for $42 Million"},"content":{"rendered":"<p>The decentralized exchange (DEX) GMX has fallen victim to a hacking incident, resulting in approximately $42 million in digital assets being stolen. The suspicious outflow of funds was first noticed by a researcher known as DeFi Cheetah.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">GMX seems to have been exploited for ~$42M. Exploiter Address: <a href=\"https:\/\/t.co\/lQ4vAwod7J\">https:\/\/t.co\/lQ4vAwod7J<\/a>\u2026<br \/>It seems to be a re-entrancy attack where GLP was able to be abnormally minted.<\/p>\n<p>\u2014 DeFi Cheetah \u2014 e\/acc (@DeFi_Cheetah) <a href=\"https:\/\/twitter.com\/DeFi_Cheetah\/status\/1942944964155228532?ref_src=twsrc%5Etfw\">July 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/debank.com\/profile\/0xdf3340a436c27655ba62f8281565c9925c3a5221\/history\">on-chain data<\/a>, at the time of writing, the hacker is transferring assets from the L2 solution Arbitrum to Ethereum. Part of the USDC stablecoins has already been exchanged for DAI. The wallet also holds wBTC, ETH, wETH, UNI, and LINK.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-09-v-17.35.57.webp\" alt=\"Snimok-ekrana-2025-07-09-v-17.35.57\" class=\"wp-image-261634\"\/><figcaption class=\"wp-element-caption\">Assets in the hacker&#8217;s wallet. Data: DeBank.<\/figcaption><\/figure>\n<p>Representatives of GMX have confirmed the incident. According to them, the GLP coin pool on GMX V1 in the Arbitrum network was targeted in the attack.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">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. <\/p>\n<p>Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security\u2026<\/p>\n<p>\u2014 GMX ? (@GMX_IO) <a href=\"https:\/\/twitter.com\/GMX_IO\/status\/1942955807756165574?ref_src=twsrc%5Etfw\">July 9, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTrading on GMX V1, as well as the issuance and redemption of GLP, has been disabled on both Arbitrum and Avalanche to prevent further attacks and protect users from additional negative consequences,\u201d the statement reads.<\/p>\n<\/blockquote>\n<p>The vulnerability does not affect GMX V2, its markets, liquidity pools, or the native GMX token, the platform representatives emphasized.<\/p>\n<p>Following the attack, the GMX price dropped by 17% \u2014 from $15 to $11.4, according to <a href=\"https:\/\/www.coingecko.com\/ru\/%D0%9A%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B\/gmx\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/GMX_2025-07-09_18-06-11.webp\" alt=\"GMX_2025-07-09_18-06-11\" class=\"wp-image-261635\"\/><figcaption class=\"wp-element-caption\">15-minute GMX\/USD chart on Uniswap. Data: GeckoTerminal.<\/figcaption><\/figure>\n<p>Back in June, the stablecoin protocol Resupply <a href=\"https:\/\/forklog.com\/en\/news\/resupply-protocol-hacked-for-9-5-million\">lost<\/a> approximately $9.5 million due to a hack. The hacker exploited a vulnerability in the exchange rate calculation system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decentralized exchange (DEX) GMX has fallen victim to a hacking incident, resulting in approximately $42 million in digital assets being stolen. The suspicious outflow of funds was first noticed by a researcher known as DeFi Cheetah. GMX seems to have been exploited for ~$42M. Exploiter Address: https:\/\/t.co\/lQ4vAwod7J\u2026It seems to be a re-entrancy attack where [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,787],"class_list":["post-25214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-dex"],"aioseo_notices":[],"amp_enabled":true,"views":"98","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25214"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25213"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}