GMX Attacker May Be Returning Stolen Crypto After Accepting $5 Million White Hat Bounty

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.