Learning from the GMX Hack: Enhancing Crypto Payroll Security
With the recent $42 million GMX hack still fresh in everyone’s mind, it’s clear that crypto payroll security is more important than ever. The hack exposed vulnerabilities that could threaten crypto payroll systems for startups, calling into question the integrity of decentralized finance as a whole. For startups hoping to thrive in this space, prioritizing security is essential for protecting employee compensation and earning trust.
The GMX Hack: A Major Blow
On July 9, 2025, GMX—one of the top decentralized perpetual futures exchanges—fell victim to a substantial hack that took advantage of a reentrancy vulnerability in its V1 GLP liquidity pool on Arbitrum. The attacker minted unauthorized GLP tokens, draining assets including…
