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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.

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.

About $13 million worth of cryptocurrency has been drained from decentralized lending protocol Abracadabra.Finance following an exploit targeting pools using GMX tokens.In a March 25 X post, crypto cybersecurity firm PeckShield reported that contracts related to GMX and Abracadabra.Money had been compromised, resulting in the loss of about 6,260 Ether (ETH), worth around $13 million. The news follows Abracadabra.Money losing $6.49 million after its smart contracts were compromised in late January 2024.

Binance Exchange has announced plans to delist Algoran, DigiByte and GMX trading pairs.

Binance announces the removal of spot trading pairs ALGO/FDUSD, CHR/ETH, DGB/BTC, and GMX/BTC to maintain market quality. Trading bot services will also be terminated.

GMX token remained flat on Tuesday, Sept. 24, as most cryptocurrencies continued consolidating and volume in its ecosystem retreated.

GMX decentralized exchange has listed two revenue-generating assets on the Arbitrum network. The two – Lido's wrapped staked Ether (wstETH) and Ethena Labs' synthetic dollar (USDe)- will support an ETH/USD perpetual futures marketplace on GMX version 2. The new listing reflects GMX's dedication to providing top-notch earning opportunities without compromising liquidity.

GMX, an on-chain perpetual and spot exchange, has announced that a proposal to change the platform's revenue distribution model has entered the on-chain vote stage.

Chainlink, a decentralized computing and oracle protocol, Avalanche, known for its layer one (L1) blockchain technology, and GMX, a notable decentralized exchange, have launched Chainlink Data Streams on the Avalanche blockchain. Chainlink, Avalanche, GMX Launch Data Streams on Avalanche Blockchain In communications shared with Bitcoin.

Chainlink's Data Streams are officially live on Avalanche, according to an announcement just in from Chainlink, Avalanche and GMX, an on-chain perpetual and spot crypto exchange The major integration has GMX as the launch partner that will help power Avalanche's

TL;DR Chainlink, Avalanche, and GMX have launched Data Streams on Avalanche's mainnet, enhancing DeFi with high-frequency, low-latency market data. Data Streams uses a pull-based model for dApps to efficiently access real-time data, crucial for platforms like GMX on Avalanche.

Chainlink Data Streams now live on Avalanche with GMX V2, enhancing DeFi speed and security for the whole AVAX-based ecosystem. The post Chainlink data streams debuts on Avalanche with GMX V2 appeared first on Crypto Briefing.

Blockchain tracking firm Lookonchain says that whales – possibly institutional investors – are accumulating a decentralized exchange (DEX) altcoin. According to Lookonchain, fresh wallets have been accumulating the native token of GMX (GMX), a DEX that operates on the Arbitrum (ARB) and Avalanche (AVAX) blockchains offering spot and leveraged trading.

Amid increased price volatility, the cryptocurrency market has displayed significant price action over the past few days. However, the top tokens continue the struggle to hold prices above their respective resistance level, indicating a mixed sentiment in the crypto space.

GMX, the native token of decentralized perpetual exchange GMX, has soared over 20% in the past 24 hours. The surge was seemingly fueled by a crypto whale move that ignited the community's positive sentiment towards the token.

Binance introduces Auction, GMX, and Liquity as new loanable assets on its flexible rate loans.

GMX Markets are among the most successful on-chain derivative markets, surpassing DyDx based on fees. GMX is extremely secure because its encryption procedure relies on OpenPGP, which has never been cracked.

In this article we explore GMX, a decentralized perpetual trading DEX that allows leverage up to 50X on various cryptocurrencies.

BitMEX founder Arthur Hayes has reportedly sent more than $1 million worth of the decentralized exchange (DEX) altcoin GMX (GMX) to centralized exchanges. Pseudonymous on-chain analyst EmberCN tells their 79,700 followers on the social media platform X that Hayes had controlled the largest personal address for GMX holders since 2022.

Arthur Hayes, the founder of the crypto exchange BitMEX, recently made a move on an altcoin he had held since 2022. This move saw the transfer of over 230,000 GMX tokens to Wintermute Trading, seemingly making a profit of $3.2 million.

GMX price seems to have seen some recovery, finding stability around the $39 mark.