Post
Topic
Board Currency exchange
Merits 1 from 1 user
Topic OP
Warning to all lovers of CEXs.
by
satscraper
on 09/07/2025, 15:40:42 UTC
⭐ Merited by Charles-Tim (1)
Another one bites the dust. This time GMX which was failed to withstand hackers. On 9th of July they managed to breach exchange security system and steal  $42M.

GMX recommendations for users:

1) "Disable leverage: this can be done by setting Vault.setIsLeverageEnabled(false) or, if Vault Timelock is used, by setting Timelock.setShouldToggleIsLeverageEnabled(false)"
2) "Set all maxUsdgAmounts to "1" by using Vault.setTokenConfig or Timelock.setTokenConfig, to prevent GLP minting"


Isn't the better to use DEXs instead of CEXs?  The answer seems to be obvious.