GMX Platform Faces Security Breach on Arbitrum

According to Foresight News, GMX has reported a security breach on its Telegram channel involving the GLP pool on the Arbitrum platform. Approximately $40 million worth of tokens have been transferred from the GLP pool to an unknown wallet. Security partners are actively investigating the incident. In response to the attack, both the Arbitrum and Avalanche platforms have disabled trading and the minting and exchange functions of GMX V1 to prevent further breaches. However, the vulnerability does not affect GMX V2 or the GMX token itself.