• The decentralized exchange GMX was hacked for approximately $42 million on July 9, 2025
• The attacker exploited the platform’s GLP liquidity pool, draining multiple crypto assets
• The GMX team has sent an on-chain message offering the hacker a 10% “white-hat” bounty to return the funds

Decentralized derivatives exchange GMX faced a major security breach on July 9, 2025. An attacker exploited the platform’s GLP l