GMX suffers $42M hack, issues 10% bounty offer to hacker

Circle faces criticism for tardy actions as $4.3 million in USDC remains exposed after GMX exploit.

Jul 09, 2025

Happy Wednesday!

GMX suffered a major $42 million hack targeting its GLP liquidity pool, prompting the team to offer the attacker a 10% white-hat bounty for returning the funds. Meanwhile, Circle faces criticism as $4.3 million in USDC remains exposed following the exploit. On a brighter note, SharpLink's stock continues to surge as its Ethereum treasury tops 200,000 ETH, reflecting an aggressive growth strategy. Stablecoin issuers also made headlines, collectively holding $182 billion in U.S. Treasuries—surpassing countries like the UAE and South Korea. Here's what's shaking up crypto today.

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The global crypto market cap is $3.39 trillion, with a 24-hour volume of $107.57 billion. The price of Bitcoin is $109,054.22, and BTC market dominance is 64.0%. The price of Ethereum is $2,653.48, and ETH market dominance is 9.5%. The best-performing sector is Transportation, which gained 9%. The Crypto Fear & Greed Index is currently Greed (66).