Decentralized exchange GMX has suffered a $42 million hack on the Arbitrum network. The breach involved the theft of $23 million in stablecoins, including FRAX, USDC, USDT, and DAI, as well as 88.17 WBTC valued at $9.59 million, 3,205.5 WETH worth $8.47 million, 65,479 UNI totaling $536,000, and 23,800 LINK amounting to $334,000. The hacker has already transferred approximately $10.66 million, primarily in ETH and stablecoins, to the Ethereum network. Initial funding for the hacker's address was traced back to TornadoCash two days prior, indicating potential premeditation. The crypto community is closely monitoring the situation for further developments.