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![GMX_IO Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1363739197018828802.png) GMX 🫐 [@GMX_IO](/creator/twitter/GMX_IO) on x 230.8K followers
Created: 2025-07-09 16:51:23 UTC

Our initial analysis of today’s GLP exploit, conducted in collaboration with our security partners and lead auditor, still confirms that the attack vector is specific to GMX V1. The manipulation involved relates to the calculation of the short average price on V1, and the same calculation mechanism is not employed in the GMX V2 contracts.

Out of an abundance of caution, GMX had already updated the caps for the GM tokens of GMX V2 on Arbitrum and Avalanche, so that minting new tokens is currently restricted in most liquidity pools. A follow-up notification will be sent out once this restriction is lifted.

GMX will provide a detailed post-mortem analysis publicly, as soon as the investigation into the incident is complete.


XXXXXX engagements

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**Related Topics**
[has been](/topic/has-been)
[$40m](/topic/$40m)
[v1](/topic/v1)
[gmx](/topic/gmx)

[Post Link](https://x.com/GMX_IO/status/1942989975814820347)