Of the contracts related to the GMX Vault, assets were displayed by more than $ 42 million. The funds entered one wallet and some of them were transferred from the ARBITRUM network to the Ethereum network. This is a common tactics used by attackers to conceal and launder stolen assets, experts explained. According to them, the contracts affected are associated with the infrastructure of the GMX storage, which controls liquidity for credit trade and derivatives.
The incident may become one of the largest hacks of projects related to decentralized finances (Defi), and once again shows the vulnerability of the smart contract platforms, representatives of Debank and Peckshield said.
The GMX team confirmed the fact of hacking and sent a transfer to the hacker’s wallet on the Arbitrum network with attached reports. GMX proposed to return 90% of the stolen funds in exchange for refusing criminal prosecution. The remaining 10% GMX is ready to consider “reward for the found vulnerability”.
After the attack, trade, production and repayment of GMX tokens on Arbitrum and Avalanche networks were suspended. The vulnerability did not affect the GMX V2 version, its liquidity pools and GMX token, but the cost of the coin after it became known about the attack, collapsed by 20%.
Earlier, TRM Labs security experts reported that hackers stole $ 2.1 billion in cryptocurrencies in six months – this is a new anti -record. The damage exceeded last year and was 10% more than the previous record of 2022.
Source: Bits
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