While no one had active GMX v1 Protocol Cover from Nexus Mutual, the listing was live and several stakers had allocated capacity to it

Our Head of Product, @BraveDeFi whipped up a detailed analysis here

https://t.co/6vLmqdyc1y

Early analysis indicates this exploit was caused by a vulnerability in how GMX v1 calculated AUM, which allowed the attacker to manipulate the price of GLP tokens and steal funds from the smart contracts as a result. I'll wait for a full post-mortem from the GMX team, but there are already preliminary reports out there on the root cause of this attack.

See @officer_cia's thread for a compilation of these reports 👇
https://t.co/dLvGrvb1ew