GMX Attacker May Be Returning Stolen Crypto After Accepting $5 Million White Hat Bounty
2025-07-11 10:44:52

Main Idea
A hacker returned $20 million of the $40 million stolen from GMX v1 after accepting a $5 million white hat bounty, highlighting evolving security and bounty strategies in DeFi.
Key Points
1. The GMX v1 attack exploited a design flaw in its liquidity pool, allowing the hacker to steal $40 million in crypto.
2. Approximately $9 million in ETH and $10.5 million in FRAX stablecoins were returned after the hacker accepted a $5 million white hat bounty.
3. GMX's bounty offer included a legal warning to return 90% of the stolen funds within 48 hours to avoid enforcement actions.
4. The incident underscores the importance of structured incentives and legal frameworks in mitigating DeFi exploits.
5. Industry experts and security firms like PeckShield noted the proactive approach by GMX in handling the exploit.
Description
The GMX decentralized exchange (DEX) has initiated the recovery of $40 million stolen in a recent exploit, as the attacker begins returning funds after accepting a $5 million white hat
Latest News
- Massive ETH Shorts Totaling Over $143M Triggered by Top Traders on Hyperliquid2025-07-11 16:31:06
- Dogecoin Leads Meme Coin Gains Amid Bitcoin Rally Ahead of Pump.fun Solana Token Sale2025-07-11 16:30:27
- Bitcoin Shows Potential for Further Growth Amid Cryptocurrency Divergence in 20242025-07-11 16:30:13
- Bitcoin Falls Below $117,000 Mark, Trading at $116,956 Amid 0.77% Hourly Decline2025-07-11 16:18:42
- Bitcoin Briefly Surpasses Amazon in Market Cap, Eyes Potential Challenge to Apple2025-07-11 16:18:05