About $ 13 million was stolen in the recent hack of the integration of Crypto Exchange GMX with Abracadabra.
On March 25 Blockchain Security Monitoring Firm Peckshield reported An important security incident of GMX -Decentralized exchange. In particular, the contracts with regard to Abracadabra (spell) were hacked, which led to the theft of approximately 6,260 Ethereum (ETH), worth around $ 13 million at the current market rates.
JONEZEE, a representative of GMX, fast clarifying That the core contracts of GMX remained safe and that the issue was isolated for the integration between Abracadabra and GMX V2. He assured that the Abracadabra team actively investigates the infringement and works to identify the cause of vulnerability.
“To clarify, GMX contracts are not influenced. It relates to the boilers of Abracadabra/Spell based on the GM -Pools of GMX V2. The contributors are currently investigating the cause, and I would like to apologize for someone who is negative. This is very unfortunate,” ” written Jonzee.
The Abracadabra boilers are smart contracts that make Defi activities possible, such as loans, borrowing and liquidity supply. These boilers depend on the GM pools from GMX V2 – sluffidity pools provided by users to GMX DEX. With this integration with GMX, Abracadabra can use the GMX liquidity system to support its own products.
The Latest update With regard to the attack, it is that the stolen funds are bridged from Arbitrum (ARB) to Ethereum (ETH) and are currently spread between 3 addresses.
This is not the first time that Abracadabra has to deal with security problems in its smart contracts. In January 2024 it was Magic Internet Money (MIM) Stablecoin, part of the Abracadabra -Ecosystem, was operated Due to a vulnerability in his contract, so that attackers can manipulate the price of MIM.
