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SlowMist: GMX Theft Linked to Manipulation of GLP Price, Attacker Manipulates Global Average Price by Re-entering to Create Large Short Positions
Summary: According to SlowMist, the fundamental reason for the theft of 42 million USD from GMX last night is that GMX v1 immediately updates the global short average price when handling short positions, which directly affects the calculation of total assets under management (AUM), leading to the manipulation of GLP token price. The attacker exploited this ...
According to SlowMist, the fundamental reason for the theft of 42 million USD from GMX last night is that GMX v1 immediately updates the global short average price when handling short positions, which directly affects the calculation of total assets under management (AUM), leading to the manipulation of GLP token price.
The attacker exploited this design flaw by using Keeper to enable the timelock.enableLeverage feature when executing orders (a necessary condition for creating large short positions), successfully manipulating the global average price through re-entry to artificially raise the GLP price in a single transaction and profit through redemption operations.
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Link: SlowMist: GMX Theft Linked to Manipulation of GLP Price, Attacker Manipulates Global Average Price by Re-entering to Create Large Short Positions [Copy]
