GMX exploit: $42M don commot, $14.3M on-chain through Arbitrum

Published: 2025-07-09 22:31:33 |

For July 10, 2025, di GMX exploit make attackers comot $42 million crypto assets from Arbitrum network by exploiting smart contract yawa. PeckShield on-chain analysis follow $9.6 million stolen money wey dem move enter Ethereum through bridge. Later, di exploit guy move $14.3 million on-chain: dem send 2,000 ETH (about $5.3 million) go new Arbitrum wallet, dem swap $9 million USDC for decentralized DAI on Ethereum. GMX exploit show main DeFi security wahala. Attackers use Arbitrum low fee and high speed to hide big ETH waka. To convert USDC to DAI dey help avoid freeze, e show flash loan attack, cross-chain tracking palava, and central stablecoin gbege. GMX respond with 10% white-hat bounty to recover money and make defense strong. Crypto traders need dey watch DeFi security matter and use tight smart contract audit, real-time monitoring, strong bug bounty, and better cross-chain tracking tools.

Bearish

For short term, di GMX exploit fit press down on di GMX token price because traders go dey react to di increased risk and possible capital exit. Di breach make investors lose confidence for GMX protocol security and fit cause sell pressure. For long term, even though GMX 10% white-hat bounty plus beta security measures fit bring back trust, ongoing DeFi vulnerabilities show say risk still dey. Overall, di exploit go affect market sentiment and limit bullish momentum for GMX trading.