Exchange record
GMX
Decentralized perpetual exchange protocol. In July 2025, GMX v1 / GLP on Arbitrum was exploited for about USD 42 million, leading to disabled v1 trading and GLP mint/redeem on Arbitrum and Avalanche while GMX v2 and the broader protocol continued.
Key facts
URL handling
Summary
Decentralized perpetual exchange protocol. In July 2025, GMX v1 / GLP on Arbitrum was exploited for about USD 42 million, leading to disabled v1 trading and GLP mint/redeem on Arbitrum and Avalanche while GMX v2 and the broader protocol continued.
Timeline
GMX v1 / GLP on Arbitrum was exploited for about USD 42 million, with the attacker later offered a white-hat bounty and some funds reportedly returned.
GMX disabled GMX v1 trading and GLP mint/redeem functionality on Arbitrum and Avalanche after the exploit, while stating or reporting that GMX v2 was unaffected.
Follow-up reporting described a white-hat bounty / return-of-funds process after the GMX exploit, supporting active classification despite the serious v1 incident.