GMX completes V1 vulnerability compensation, $44 million will be distributed to affected users.

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[Chain News] On August 13, GMX announced that it has successfully completed a compensation plan for the vulnerabilities affecting GMX V1, with approximately $44 million to be distributed to affected Arbitrum GLP Liquidity Providers. Users can apply for compensation through the GMX dApp and receive GLV Tokens, including GLV [BTC-USDC] and GLV [WETH-USDC], with the token composition similar to the original GLP asset allocation. Additionally, users holding GLV for at least 3 months will receive a $500,000 retention reward provided by GMX DAO. GMX V2 is unaffected and currently has a weekly volume reaching billions of dollars. Previously, GMX announced that trading on GMX V1 and the minting and redemption of GLP have been suspended, with approximately $40 million stolen.

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BanklessAtHeartvip
· 20h ago
Fortunately, v2 was not affected.
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ZKSherlockvip
· 08-13 14:56
actually, their "compensation" still relies on centralized trust assumptions...
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AllInAlicevip
· 08-13 14:52
This money will be taken and then Rug Pull.
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ProposalDetectivevip
· 08-13 14:48
It should have been compensated long ago.
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MidsommarWalletvip
· 08-13 14:38
The compensation is quite good and deserves recognition.
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OffchainWinnervip
· 08-13 14:36
Still able to handle GMX
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CryptoSourGrapevip
· 08-13 14:29
Hehe, these compensations are not for poor worms like me.
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