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At Close: Jun 22, 2026
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

GMX Crashes 25% After $42 Million DeFi Hack

12:12pm, Wednesday, 09'th Jul 2025
GMX suffered a major hack today, as a wallet drained roughly $42 million from its GLP liquidity provider. It's unclear how this happened, but the team offered the attackers a 10% bounty if they return
GMX was exploited for $42M, after a hacker deployed a malicious smart contract.
A major security incident struck the decentralized exchange GMX, siphoning approximately $42 million from its Arbitrum-based v1 perpetual platform. In response, GMX has sent an on-chain message to the
Decentralized perpetual exchange GMX has been exploited with over $42 million worth of crypto being stolen, according to blockchain security firm PeckShield.
While a post-mortem of the attack has yet to occur, the hacker appears to have drained funds out of GMX's GLP liquidity pool.
Decentralized exchange GMX is believed to have suffered a major exploit, with over $42 million in digital assets reportedly drained from its vaults, according to data from DeBank.
The exploit highlights vulnerabilities in DeFi platforms, potentially undermining trust and prompting stricter security measures industry-wide. The post Top perps DEX GMX hacked for over $40m, $GMX to
GMX clarified that its contracts were secure after an exploit involving Abracadabra's cauldrons resulted in a $13 million theft.
A recent exploit on Abracadabra.Money, a cryptocurrency lending platform, targeted pools that were built using GMX GMX tokens.
Abracadabra.Money lost $13 million in an exploit that targeted liquidity pools using GMX tokens.
Abracadabra Finance has confirmed a security exploit affecting its gmCauldron smart contracts, resulting in the theft of approximately $13 million and is taking steps to recover the funds.
The attack targeted pools tied to GMX liquidity tokens, specifically “cauldrons” using GM tokens as collateral.
An attacker drain approximately 6,262 ETH, valued at around $13 million, from Abracadabra's liquidity pools on GMX.

GMX smart contracts hacked for 6,260 ETH

11:40am, Tuesday, 25'th Mar 2025
Magic Internet Money (MIM) was exploited for 6,260 ETH, taken from lending vaults on Arbitrum. While MIM used GMX smart contracts, neither the GMX project nor the GM token were affected by the hack.
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