GMX Hacker Goes White-Hat, Returns $40 Million—Sends Rest to Tornado Cash

Key Points

1. GMX was hit with a re-entrancy attack, resulting in a $40 million crypto loss, but the attacker returned the funds, including 10,000 Ethereum and stablecoins.

2. The stolen amount increased due to Bitcoin and Ethereum price surges, with the funds held in a GMX security committee wallet.

3. GMX offered the attacker a 10% white-hat bounty and disabled trading on GMX V1, along with minting and redeeming GLP tokens on Arbitrum and Avalanche.

4. The attacker manipulated GMX's GLP pool on Arbitrum by redeeming GLP tokens for short positions on Bitcoin.

5. Forensics tools have become more sophisticated, leading to increased fund recoveries in such exploits.