Incident All ledgers
GMX V1 EVM: $42.0m
GMX V1 EVM lost $42.0m on 9 July 2025. Ranked 81st of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 9 July 2025
- Lost
- $42.0m
- Returned or repaid
- $40.0m
- Target
- DeFi Protocol
- Category
- Reentrancy
- Method
- Reentrancy
- Chains
- Arbitrum
GMX V1 perpetuals on Arbitrum lost about $42M on July 9, 2025 when an attacker used a contract to reenter executeDecreaseOrder(), manipulating short positions to inflate the GLP price and profit from redemptions. The funds were returned July 12, minus a $5M bounty the attacker kept.
Against the ledger
- It ranks 81st of the 1,272 incidents with a known loss, and 11th in 2025.
- It accounts for 29.1% of the $144.2m in known losses in July 2025.
- 61 incidents in the ledger are classified as Reentrancy, for $458.1m in total. This one is 9.2% of that.
- $40.0m is recorded as returned or repaid, 95.2% of the amount taken.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 30 Jul 2023 | Curve DEX | $61.7m | DeFi Protocol | Vyper Compiler Bug | — |
| 17 Jun 2016 | The DAO | $60.0m | DeFi Protocol | Reentrancy | — |
| 18 Dec 2021 | Grim Finance | $30.0m | DeFi Protocol | Reentrancy | — |
| 03 Sept 2024 | Penpie | $27.0m | DeFi Protocol | Reentrancy | — |
| 19 Apr 2020 | dForce Lending | $25.0m | DeFi Protocol | Reentrancy | — |
All failures in 2025 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “GMX V1 EVM, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/gmx-v1-evm-2025-07-09/. How this is built