According to Lookonchain, GMX and MIM_Spell related contracts were hacked, resulting in the loss of approximately 6,262 ETH, valued at $12.9 million. The hacker has successfully bridged these assets to the Ethereum network and distributed them across three new wallets. This incident highlights significant security vulnerabilities affecting these platforms. Traders should exercise caution and monitor the wallets involved through Etherscan for any suspicious activities.

According to Lookonchain, GMX and MIM_Spell related contracts were compromised, resulting in a loss of approximately 6,262 ETH, valued at $12.9 million. The stolen Ethereum was bridged to the Ethereum network and subsequently distributed across three new wallets. This incident highlights potential vulnerabilities within these platforms and may impact trading strategies involving GMX and MIM_Spell tokens. (Source: Lookonchain)

According to ZachXBT, an OSINT analysis was conducted to identify posts in Telegram groups by a specific account. Three posts were found in the GMX group from the same Telegram ID, which sought assistance. This was verified to be the same individual as the account 0xe4d3, who was actively trading on-chain at the same time.

According to ZachXBT, the user 0xf3f signed a message under the X account @qwatio claiming to have made $20 million on the platforms GMX and HL. To substantiate this claim, 0xf3f would need to control the wallets associated with these earnings. The original posts regarding this claim were subsequently deleted from the platform.

According to ZachXBT, a trader attracted significant attention after executing two onchain trades involving large ETH and BTC long positions with 50X leverage on Hyperliquid and GMX. This activity occurred just before an announcement by Trump regarding a crypto reserve, highlighting the trader's strategic market positioning. [Source: ZachXBT]

According to Ai 姨 (@ai_9684xtpa), the addresses 1️⃣2️⃣4️⃣ are highly active on GMX since January, employing an average leverage of 30x, resembling Hyperliquid's trading style. The primary focus is on BTC/ETH contracts, with involvement in SOL, DOGE, and LINK, explaining previous YGG trades on Hyperliquid. Among these, address 1️⃣2️⃣ recorded a loss of $2.51 million.

According to Ai 姨, a significant trader profited $7.13 million using 50x leverage on Hyperliquid, raising questions about whether they are an insider or a high-risk gambler. The trader has previously earned $2.53 million through high leverage on GMX since January and is active on gambling platforms Roobet and AlphaPo. Additionally, they have interacted with ChangeNOW, a platform favored by hackers.

According to Lookonchain, a cryptocurrency whale who previously earned $6.8 million by going long on BTC and ETH with 50x leverage has now made an additional profit of approximately $300,000 by shorting BTC. This trader is noted for employing extremely high leverage, including 100x leverage for trades involving BTC and ETH on the GMX platform.

According to @EmberCN, there have been some profits made on GMX, although they are not significant.