PANews August 13 news, GMX announced that it has completed a compensation plan of approximately $44 million for the vulnerabilities affecting GMX V1, distributing GLV tokens to affected Arbitrum GLP holders, including GLV [BTC-USDC] and GLV [WETH-USDC]. The token composition is approximately 25% Bitcoin, 25% Ethereum, and 50% stablecoin.
This compensation includes 2 million USD from the DAO treasury support and 500,000 USD in GLV holding rewards. Users can apply for compensation through the GMX dApp, and those who hold GLV for at least 3 months can receive retention rewards. The GLP redemption feature is expected to be opened in 10 days, and the remaining GLP can be sold normally.
The vulnerability was discovered on July 9, and the anonymous attacker accepted a $5 million bounty and returned the funds; GMX V2 was not affected.
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