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![eldarcap Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1394581304046407681.png) Eldar [@eldarcap](/creator/twitter/eldarcap) on x 1363 followers
Created: 2025-07-09 15:23:47 UTC

The @GMX_IO V1 being exploited was not on my bingo card.

It seems to be a rather large exploit in term of amount, shy of $50M.

The silver lining is that the V2 was not affected.

Still the reputation of GMX will suffer.

$GMX price is quite impacted, and likely will dip a bit more.

I personally de allocated and will maybe re enter lower depending on how the protocol cope with this.

It is quite sad given I considered $GMX to be quite undervalued in the perp category.


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1942967927004606927/c:line.svg)

**Related Topics**
[protocol](/topic/protocol)
[gmx](/topic/gmx)
[$50m](/topic/$50m)
[shy](/topic/shy)
[gmxio](/topic/gmxio)
[$gmx](/topic/$gmx)
[coins defi](/topic/coins-defi)
[coins exchange tokens](/topic/coins-exchange-tokens)

[Post Link](https://x.com/eldarcap/status/1942967927004606927)

[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

eldarcap Avatar Eldar @eldarcap on x 1363 followers Created: 2025-07-09 15:23:47 UTC

The @GMX_IO V1 being exploited was not on my bingo card.

It seems to be a rather large exploit in term of amount, shy of $50M.

The silver lining is that the V2 was not affected.

Still the reputation of GMX will suffer.

$GMX price is quite impacted, and likely will dip a bit more.

I personally de allocated and will maybe re enter lower depending on how the protocol cope with this.

It is quite sad given I considered $GMX to be quite undervalued in the perp category.

XXX engagements

Engagements Line Chart

Related Topics protocol gmx $50m shy gmxio $gmx coins defi coins exchange tokens

Post Link

post/tweet::1942967927004606927
/post/tweet::1942967927004606927