GMX V1 attacked by hackers for $40 million

The GMX protocol halted trading on GMX V1 after a liquidity pool suffered an exploit on Wednesday, leading to $40 million in funds being stolen and sent to an unknown wallet.

GMX V1 is the first version of the GMX perpetual exchange deployed on the Arbitrum network. The attacked pool provides the liquidity provider of the GMX protocol with a basket of underlying digital assets including Bitcoin (BTC), Ether (ETH) and stablecoins, according to the GMX team.

The protocol has also announced a temporary suspension in minting and redemption of GLP tokens on…