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Today in crypto, GMX has paused trading after a liquidity pool exploit drained over $40 million. Bybit has confirmed details of the upcoming Pump.fun token sale, and the US has sanctioned a North Korean IT worker ring accused of targeting American companies.
The GMX protocol halted trading on GMX V1 after a liquidity pool suffered an exploit on Wednesday, leading to $40 million in funds being stolen and sent to an unknown wallet.
GMX V1 is the first version of the GMX perpetual exchange deployed on the Arbitrum network. The attacked pool is a liquidity provider for the GMX protocol with a basket of underlying digital assets including Bitcoin (BTC), Ether (ETH) and stablecoins, according to the GMX team.
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