GMX Hacked for $42 Million; Team Offers Hacker a 10% Bounty for Return of Funds
2025-07-09 16:23:49
Main Idea
Decentralized exchange GMX was hacked for approximately $42 million on July 9, 2025, with the attacker exploiting the GLP liquidity pool; the GMX team offered a 10% bounty for the return of the stolen funds.
Key Points
1. GMX suffered a security breach on July 9, 2025, losing around $42 million due to an exploit of its GLP liquidity pool.
2. The attacker drained funds in stages, converting USDC to ETH and other tokens, with $9.6 million bridged to Ethereum.
3. GMX offered the hacker a 10% white-hat bounty ($4.2 million) for returning the funds, with no legal action if complied within 48 hours.
4. At the time of writing, no funds had been returned, and the exploiter still held nearly $44 million.
5. GMX, launched in 2021 and operating on Arbitrum, supports leveraged trading for assets like BTC, ETH, and AVAX.
Description
The decentralized exchange GMX was hacked for approximately $42 million on July 9, 2025 The attacker exploited the platform’s GLP liquidity pool, draining multiple crypto assets The GMX team has sent an on-chain message offering the hacker a 10% “white-hat” bounty to return the funds Decentralized derivatives exchange GMX faced a major security breach on July 9, 2025. An attacker exploited the platform’s GLP liquidity pool and stole around $42 million in crypto assets. PeckShield, a blockchain s...
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