Decentralized Exchange GMX Reports Unauthorized Outflow of Cryptocurrency Worth Approximately 6 Billion Yen Due to Potential Vulnerability in V1 GLP Pool

On the evening of July 9, the decentralized cryptocurrency exchange GMX announced an unauthorized outflow from the 'GMX V1' GLP pool on Arbitrum. Tokens worth over 40 million dollars (more than 6.1 billion yen) were transferred to an unknown wallet. In response, GMX has suspended trading on GMX V1, as well as the issuance and redemption of GLP on both Arbitrum and Avalanche. These emergency measures are aimed at preventing further damage, and currently, the entire development team is engaged in identifying the cause and assessing the extent of the damage. The impact is confined to GMX V1 and its GLP pool, with no effect on GMX tokens, GMX V2 trading features, liquidity pools, etc.