gmx

GMX DAO announced on platform X that it repurchased 18,500 GMX for approximately $120,000, with an average price of about $6.49.Since the launch of the buyback program, GMX DAO has repurchased a total of 48,280 GMX, with a total investment of approximately $320,000 and a comprehensive average price of about $6.63.

GMX Labs has released a proposal for an upgrade to its leadership structure, which has been approved by DAO governance voting with 96.42% in favor. The proposal points out that as the team expands and competition in the perpetual DEX space intensifies, GMX Labs' early flat, founder-driven organizational structure is no longer sustainable and needs to transition to a clearer and more accountable traditional leadership structure.The proposal announces the introduction of a CEO through a public recruitment process, with candidates drawn from DeFi, CeFi, traditional finance, and the technology industry. The goal is to complete the recruitment and onboarding by April 2026, and to complete the organizational restructuring and submit a new contributor token allocation plan aligned with performance to the DAO by June. The CEO's responsibilities include setting the strategic direction for GMX Labs, establishing a functional leadership team, strengthening partnerships, and representing GMX Labs in industry events.In terms of compensation, the CEO's base salary will be between $150,000 and $200,000 per year, paid in stablecoins; performance incentives will be denominated in GMX tokens and directly linked to the growth of protocol fees, with the current annual protocol fee baseline being approximately $60 million. A 50% increase in fees will yield partial rewards, while a 100% increase to about $120 million will yield the full base reward pool of 40,000 GMX tokens. A 125% increase to about $135 million will additionally grant 10,000 GMX as a special reward. The GMX tokens received will also be adjusted by 0.5 to 1.5 times based on the 30-day average price of GMX, with an annual token compensation cap of 75,000 GMX. Of the performance rewards, 25% will be unlocked immediately upon meeting targets, while the remaining 75% will vest linearly over 24 months, with unvested portions forfeited upon early departure.During the transition period, an interim leadership committee composed of members X, Coin, B, and Kal will be responsible for maintaining operations, advancing the existing roadmap, and leading the search for the CEO.

In response to community concerns about the slow progress of MegaETH's launch, GMX stated that since the mainnet went live in the second week of February, the ecosystem's advancement is still in a gradual startup phase. Currently, the on-chain TVL scale remains relatively limited, and most protocols are still in the testing and optimization stage.GMX indicated that its smart contracts have been deployed on-chain, and the team is advancing several preparatory tasks, including ensuring initial liquidity is in place, refining the liquidity provider (LP) incentive design for the GLV [USDM-USDM] treasury, optimizing the trading user experience, and collaborating with DeFi protocols built on MegaETH to leverage composability advantages. However, a formal launch date has not yet been determined, and it is expected that updates will follow as soon as the next phase of the ecosystem advancement plan for MegaETH is announced.

GMX DAO recently approved a strategic plan to address the limited effects of ongoing buybacks and the pressure on prices caused by excess supply from CEX.According to the new plan, starting this week, staking rewards will be directed to the protocol treasury, and the protocol's liquidity will be concentrated in GMX's own infrastructure. This move is reportedly aimed at optimizing the price discovery mechanism, reducing the impact of excess supply from exchanges on the market, and strengthening the intrinsic value support of the protocol.

According to official news, GMX has announced the integration of the Ethereum mainnet, allowing users to trade or provide liquidity directly from the mainnet.Ethereum users can earn automatic compound interest from three sources of income: perpetual trading fees (opening/closing positions/borrowing/liquidation), exchange fees, and the minting/burning fees of these liquidity tokens.

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, the "insider whale" has just closed his short position on Hyperliquid: he has completely closed his XRP short position on Hyperliquid. He started shorting with 4.22 million USDC transferred to Hyperliquid 5 days ago, and after closing all positions today, he is left with only 668,000 USDC, incurring a loss of 3.55 million dollars.After closing his position on Hyperliquid, he withdrew the remaining 668,000 USDC and transferred it to GMX, where he shorted BTC worth 59.89 million dollars with leverage of up to 95 times, opening at a price of 114,560 dollars and a liquidation price of 115,131 dollars.

ChainCatcher message, GMX has successfully completed a distribution plan of approximately $44 million, compensating GLP holders on Arbitrum affected by the recently disclosed V1 vulnerability. Eligible wallets can now claim their compensation through the GMX dApp.Approximately $44 million available for distribution ------ all affected GLP holders will receive full compensation;Compensation will be issued in two forms of GLV tokens, which are derived from the V2 yield-optimized GMX liquidity vault;The composition of GLV tokens is approximately 25% WBTC, 25% ETH, and 50% stablecoins;Includes $2 million DAO treasury support + $500,000 holding GLV incentives.

According to ChainCatcher's message and PeckShield's disclosure, there were 17 major cryptocurrency security incidents in July 2025, with total losses reaching $142 million, an increase of 27.2% from June's $111.6 million. Notably, the GMX hacker has returned approximately $40.5 million in crypto assets.The five major security incidents in July were: cryptocurrency exchange CoinDCX lost $44.2 million, decentralized exchange GMX lost $42 million (which has been recovered), BigONE exchange lost $28 million, WOOX lost $12 million, and Future Protocol lost $4.2 million.

ChainCatcher news, according to Ember monitoring, after the GMX hacker returned 10,000 ETH (approximately 30 million USD) to the GMX project team yesterday, the GMX project team sold 10,000 ETH 7 hours ago for 29,597,000 USDT, with an average selling price of 2,959 USD. It should be converted into stablecoins for the next step of asset return to users.

ChainCatcher news, according to on-chain analyst Ai Yi (@ai_9684xtpa), the GMX hacker's "self-retained" 1,700 ETH has begun to be "washed" through a mixer.In the past 3 hours, the hacker has returned approximately $40 million in FRAX and ETH, but retained nearly $5 million in profits due to the increase in coin prices as a white hat bonus; half an hour ago, 100 ETH of that was transferred to Tornado, and the remaining amount is estimated to be just a matter of time.

ChainCatcher news, according to Onchain Lens monitoring, the GMX Security Committee has received 10,000 ETH (approximately 30 million USD) and 10.5 million USD in FRAX returned by the hacker.Previously, GMX suffered losses exceeding 42 million USD due to an attack, and the hacker's address still holds 1,700 ETH, worth approximately 5.12 million USD.

ChainCatcher message, according to PeckShield monitoring, the GMX attacker has returned 3,000 ETH to GMX, worth approximately 9 million dollars.

ChainCatcher news, according to Lookonchain monitoring, the GMX hacker has returned 10.49 million FRAX.Previously, assets worth 32 million dollars were exchanged for 11,700 ETH, which is now valued at 35 million dollars, with a net profit of about 3 million dollars.

ChainCatcher news, according to PeckShield monitoring, the GMX hacker has returned 5.49 million FRAX to the GMX deployer.

ChainCatcher news, or influenced by the news that "GMX hacker claims to return stolen funds," GMX has risen over 10% during the day, currently priced at $12.5642.

ChainCatcher message, the GMX hacker sent a message to the GMX deployer address on-chain stating, "Funds will be returned later."Previously, on July 9, GMX acknowledged in an on-chain message to the hacker that it had encountered the GMXVl vulnerability and was willing to offer a 10% white hat bounty, promising not to take further legal action if the remaining 90% of the funds were returned within 48 hours.

ChainCatcher message, according to a report released by GMX officials, a summary report on the approximately $40 million vulnerability attack incident on GMX V1 on Arbitrum. The attacker directly called the increasePosition function of the Vault contract through reentrancy, bypassing the PositionRouter and PositionManager contracts (which are usually responsible for calculating the average short price). By manipulating, the attacker reduced the average short price of BTC from $109,505.77 to $1,913.70. Using a flash loan, the attacker purchased GLP at a normal price of $1.45, opening a position of $15 million. Due to the manipulated price, the GLP price was pushed up to over $27, allowing the attacker to redeem GLP at a high price for profit. GMX has confirmed that V2 has no similar vulnerabilities.Next steps regarding funding: Approximately $3.6 million remains in the GLP pool, reserved for open positions. The fees for V1 GLP on Arbitrum this week are about $500,000 (after deducting the 30% allocated to GMX stakers), which will be transferred to the DAO treasury for compensation. The minting and redemption of GLP on Arbitrum will be disabled (redemption disable requires a 24-hour Timelock). Minting of GLP on Avalanche will be disabled, but the redemption function will be retained. Closing of V1 positions on Arbitrum and Avalanche will be enabled, while opening new positions will be disabled to prevent the reoccurrence of vulnerabilities. Orders on V1 for Arbitrum and Avalanche will be canceled. Remaining funds in GLP on Arbitrum will be allocated to a compensation pool for affected GLP holders.After the above steps are completed, GMX DAO will discuss further compensation measures. It is recommended that all GMX V1 forks take immediate action, and trading and minting of similar tokens to GLP should only be re-enabled after repairs and audits.