GMX clarified that its contracts were secure after an exploit involving Abracadabra's cauldrons resulted in a $13 million theft.

A recent exploit on Abracadabra.Money, a cryptocurrency lending platform, targeted pools that were built using GMX GMX tokens.

Abracadabra.Money lost $13 million in an exploit that targeted liquidity pools using GMX tokens.

Abracadabra Finance has confirmed a security exploit affecting its gmCauldron smart contracts, resulting in the theft of approximately $13 million and is taking steps to recover the funds.

The attack targeted pools tied to GMX liquidity tokens, specifically “cauldrons” using GM tokens as collateral.

An attacker drain approximately 6,262 ETH, valued at around $13 million, from Abracadabra's liquidity pools on GMX.

Magic Internet Money (MIM) was exploited for 6,260 ETH, taken from lending vaults on Arbitrum. While MIM used GMX smart contracts, neither the GMX project nor the GM token were affected by the hack.

About $13 million worth of cryptocurrency has been drained from decentralized lending protocol Abracadabra.Finance following an exploit targeting pools using GMX tokens.In a March 25 X post, crypto cybersecurity firm PeckShield reported that contracts related to GMX and Abracadabra.Money had been compromised, resulting in the loss of about 6,260 Ether (ETH), worth around $13 million. The news follows Abracadabra.Money losing $6.49 million after its smart contracts were compromised in late January 2024.

Layer-1 (L1) coin KAVA emerged as the market's top gainer on Friday, defying the broader downturn to post gains over the past 24 hours. While most cryptocurrencies have struggled within a narrow range in recent weeks, KAVA has surged, setting itself apart from the pack.

Kava has introduced a major update to Kava AI, incorporating a decentralized version of the DeepSeek model to streamline blockchain transactions.

Kava AI integrates DeepSeek, allowing users to interact with Web3 by simply typing requests while the AI handles blockchain complexities.

HARD.fun democratizes meme coin creation with AI, eliminating coding barriers and enabling anyone to launch cross-chain tokens.

Binance announces support for Kava (KAVA) network upgrade, suspending deposits and withdrawals temporarily. Trading remains unaffected during the upgrade process.

By leveraging the Kava AI chatbot, HARD.fun has democratised meme coin creation by removing the existing barriers.

Kava, the open-source non-custodial DeFi ecosystem, announced the launch of its community-controlled memecoins creation platform HARD.fun. According to Kava, the AI-powered decentralized memecoins launchpad will be the first of its kind.

Binance Exchange has announced plans to delist Algoran, DigiByte and GMX trading pairs.

Binance announces the removal of spot trading pairs ALGO/FDUSD, CHR/ETH, DGB/BTC, and GMX/BTC to maintain market quality. Trading bot services will also be terminated.

IOTA could ride the real-world assets surge and decentralized finance traction to gain. Meanwhile, as cryptocurrency prices rise amid Bitcoin's surge to $66k, altcoins such as Kava (KAVA) and Enjin (ENJ) could follow suit. Bitcoin spot ETFs record $366m in net inflows US spot Bitcoin ETFs saw $365.

GMX token remained flat on Tuesday, Sept. 24, as most cryptocurrencies continued consolidating and volume in its ecosystem retreated.

Story Highlights The live price of Kava crypto is . This altcoin might hit a maximum of $0.65 by 2024. KAVA price could surge as high as $4.60 by 2030. With the Bitcoin price holding above $58,000 the bull market is back in action.

GMX decentralized exchange has listed two revenue-generating assets on the Arbitrum network. The two – Lido's wrapped staked Ether (wstETH) and Ethena Labs' synthetic dollar (USDe)- will support an ETH/USD perpetual futures marketplace on GMX version 2. The new listing reflects GMX's dedication to providing top-notch earning opportunities without compromising liquidity.

GMX, an on-chain perpetual and spot exchange, has announced that a proposal to change the platform's revenue distribution model has entered the on-chain vote stage.

Chainlink, a decentralized computing and oracle protocol, Avalanche, known for its layer one (L1) blockchain technology, and GMX, a notable decentralized exchange, have launched Chainlink Data Streams on the Avalanche blockchain. Chainlink, Avalanche, GMX Launch Data Streams on Avalanche Blockchain In communications shared with Bitcoin.

Chainlink's Data Streams are officially live on Avalanche, according to an announcement just in from Chainlink, Avalanche and GMX, an on-chain perpetual and spot crypto exchange The major integration has GMX as the launch partner that will help power Avalanche's

TL;DR Chainlink, Avalanche, and GMX have launched Data Streams on Avalanche's mainnet, enhancing DeFi with high-frequency, low-latency market data. Data Streams uses a pull-based model for dApps to efficiently access real-time data, crucial for platforms like GMX on Avalanche.

Chainlink Data Streams now live on Avalanche with GMX V2, enhancing DeFi speed and security for the whole AVAX-based ecosystem. The post Chainlink data streams debuts on Avalanche with GMX V2 appeared first on Crypto Briefing.

Binance Futures announces updates to leverage and margin tiers for KSMUSDT, DASHUSDT, IOTXUSDT, ASTRUSDT, and KAVAUSDT USDⓈ-M Perpetual Contracts.

Blockchain tracking firm Lookonchain says that whales – possibly institutional investors – are accumulating a decentralized exchange (DEX) altcoin. According to Lookonchain, fresh wallets have been accumulating the native token of GMX (GMX), a DEX that operates on the Arbitrum (ARB) and Avalanche (AVAX) blockchains offering spot and leveraged trading.

Amid increased price volatility, the cryptocurrency market has displayed significant price action over the past few days. However, the top tokens continue the struggle to hold prices above their respective resistance level, indicating a mixed sentiment in the crypto space.

GMX, the native token of decentralized perpetual exchange GMX, has soared over 20% in the past 24 hours. The surge was seemingly fueled by a crypto whale move that ignited the community's positive sentiment towards the token.

Binance introduces Auction, GMX, and Liquity as new loanable assets on its flexible rate loans.

GMX Markets are among the most successful on-chain derivative markets, surpassing DyDx based on fees. GMX is extremely secure because its encryption procedure relies on OpenPGP, which has never been cracked.

Binance completes integration of Wrapped BTC (WBTC) on Kava EVM and Bonk (BONK) on BNB Smart Chain, facilitating deposits and withdrawals.

In this article we explore GMX, a decentralized perpetual trading DEX that allows leverage up to 50X on various cryptocurrencies.

With the Bitcoin price peaking above $70,000 the bull market is back in action. Amidst this market of high hopes, it would not be wrong to say that Defi and Meme projects are becoming the talk of the place. With breakthrough platforms heading upwards to decentralize our complete ecosystem.

BitMEX founder Arthur Hayes has reportedly sent more than $1 million worth of the decentralized exchange (DEX) altcoin GMX (GMX) to centralized exchanges. Pseudonymous on-chain analyst EmberCN tells their 79,700 followers on the social media platform X that Hayes had controlled the largest personal address for GMX holders since 2022.

Arthur Hayes, the founder of the crypto exchange BitMEX, recently made a move on an altcoin he had held since 2022. This move saw the transfer of over 230,000 GMX tokens to Wintermute Trading, seemingly making a profit of $3.2 million.

GMX price seems to have seen some recovery, finding stability around the $39 mark.

Hayes began accumulating GMX in March 2022 and remained the number one personal address holding the tokens until today.

Arthur Hayes, the iconic crypto investor has allegedly sold off his stake in GMX, a move that will effectively end his two-year dominance as the coin's largest holder.

A report recently published by the BitMEX team has reported new details of Satoshi Nakamoto's accounts in 2014. One of them was the GMX email account of the mysterious Bitcoin founder.

Binance has completed the integration of Kava's Ethereum Virtual Machine (EVM), now supporting deposits and withdrawals for KAVA and USDT.

Kava Network- The Kava Network is the first Layer-1 blockchain to combine the speed and scalability of the Cosmos SDK with the developer support of Ethereum. It is a DeFi platform that accepts crypto assets as collateral like BTC, XRP, and ATOM.

A closely followed crypto strategist believes that a decentralized exchange (DEX) altcoin is flashing signs that it could be about to take off on a bullish rally.

GMX's price increased by more than 35% in the last seven days while a bullish pattern formed on its price chart.

Arthur Hayes, the renowned founder of BitMEX, made significant moves in the cryptocurrency market that have left the community buzzing.

The cryptocurrency industry had a relatively mixed year in 2023. It started the year well and then resumed the crypto winter where most coins were in a narrow range. It then bounced back in the fourth quarter, with most coins and tokens surging. There are now over 11,600 cryptocurrencies, according to CoinGecko.

Trading activity has surged on GMX. This was because of the general market rally in the past few days.