The perpetrator behind the GMX security breach has liquidated stolen cryptocurrency assets into approximately 11,700 Ethereum (ETH) valued at $32.33 million. The conversion included tokens such as Wrapped Bitcoin (WBTC), Wrapped Ether (WETH), Uniswap (UNI), Chainlink (LINK), USD Coin (USDC), and Tether (USDT).
The hacker distributed the converted ETH across four distinct cryptocurrency wallets. Current holdings now total 11,700 ETH alongside 10.495 million Frax (FRAX) tokens, with the combined assets valued at $42.8 million.
GMX’s offer of a 10% white hat bounty for the return of stolen funds was formally rejected by the attacker. This refusal eliminates potential negotiation avenues for asset recovery and underscores the hacker’s apparent disinterest in cooperative resolution.