GMX Whale address loses $3.4M in hack, GMX falls 3% GMX Whale address loses $3.4M in hack, GMX falls 3%
Following the incident, CryptoSlate data showed that GMX tanked by over 3% to $41.09.
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Updated: Jan. 4, 2023 at 5:47 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
A GMX whale wallet was hacked for $3.4 million of the decentralized exchange(DEX) tokens and sold through the open market, blockchain security firm Peckshield reported.
MX price fell by over 3% to $41.09 following the incident, CryptoSlate data showed.
An admin on GMX’s official Telegram group Xhiroz confirmed the incident. Xhiroz wrote:
“A GMX whale wallet was hacked unfortunately and around 4m$ were market sold.”
Another admin on the group Tano said the team was in contact with the victim of the hack.
According to blockchain analytical firm Certik, the stolen GMX was swapped for Ethereum (ETH). As of press time, the funds are sitting in an address Etherscan has tagged to be involved in a phishing attack.
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Posted In: Hacks
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
GMX
$30.4180
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.
CertiK
Founded in 2018 by professors of Yale University and Columbia University, CertiK is a pioneer in blockchain security, utilizing best-in-class AI technology to secure and monitor blockchain protocols and smart contracts.