PANews reported on August 13th that GMX has successfully completed its compensation program for the impact of the GMX V1 vulnerability, distributing approximately $44 million to affected Arbitrum GLP liquidityPANews reported on August 13th that GMX has successfully completed its compensation program for the impact of the GMX V1 vulnerability, distributing approximately $44 million to affected Arbitrum GLP liquidity
GMX completes compensation plan for V1 vulnerability impact, $44 million will be distributed to affected Arbitrum GLP liquidity providers
PANews reported on August 13th that GMX has successfully completed its compensation program for the impact of the GMX V1 vulnerability, distributing approximately $44 million 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 a similar asset composition to the original GLP.
In addition, users who hold GLV for at least 3 months will receive a $500,000 USD retention reward from the GMX DAO. GMX V2 remains unaffected and currently boasts billions of USD in weekly trading volume.
According to previous news, GMX has suspended transactions on GMX V1 and the minting and redemption of GLP, with approximately US$40 million stolen .
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
‘European SEC’ proposal sparks licensing concerns, institutional ambitions
Legal experts are concerned that transforming ESMA into the “European SEC” may hinder the licensing of crypto and fintech in the region. The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.Read more
Share
Coinstats2025/12/07 01:41
Western Union Eyes Stablecoin Card for Inflation Zones
The post Western Union Eyes Stablecoin Card for Inflation Zones appeared on BitcoinEthereumNews.com. Western Union is building a stablecoin-backed prepaid card targeting countries with high inflation rates. Summary Western Union is creating a stablecoin-backed prepaid card for inflation-heavy economies. The USDPT token on Solana launches in 2026, integrating with the firm’s remittance network. Partnership with Rain enables Visa stablecoin cards and crypto-to-cash conversions. The money transfer giant plans to offer the product in markets where local currency depreciation erodes purchasing power, CFO Matthew Cagwin told the UBS Global Technology and AI conference. Cagwin pointed to Argentina as a prime use case, where inflation exceeded 200% last year. The dollar-denominated card would help preserve value for remittance recipients in economies facing rapid currency devaluation. Rain partnership brings Visa stablecoin cards Western Union has partnered with Rain to issue Visa cards linked to stablecoins. The collaboration allows users to convert digital assets stored in wallets connected to Rain’s platform into local cash at Western Union branches. The company is building on-ramps and off-ramps within its digital asset network to reduce banking system dependence and accelerate fund settlement. “We’re working with several providers to build this infrastructure,” Cagwin stated. Western Union plans to launch the US Dollar Payment Token (USDPT) in 2026, a stablecoin issued by Anchorage Digital on the Solana network. The token will integrate with the company’s broader digital asset strategy. The prepaid card will function as a bridge between stablecoins and everyday spending in high-inflation economies. Users receive remittances loaded onto cards denominated in dollars. The cards can be spent at merchants or withdrawn as cash at Western Union locations. Company reverses decade-long crypto skepticism Western Union maintained a dismissive stance toward cryptocurrencies for years. In 2017, Chief Technology Officer David Thompson questioned Bitcoin’s viability as currency, comparing crypto to commodities rather than functional money. The company argued that digital assets lacked governance,…
Share
BitcoinEthereumNews2025/12/07 02:47
The Economics of Self-Isolation: A Game-Theoretic Analysis of Contagion in a Free Economy
Exploring how the costs of a pandemic can lead to a self-enforcing lockdown in a networked economy, analyzing the resulting changes in network structure and the existence of stable equilibria.
Share
Hackernoon2025/09/17 23:00