GMX Offers Its Hacker a $4.2 Million Bounty After $42M Exploit

2025-07-14 18:39:54 分类：Blockchain 阅读(253)

The hacker moved funds in several stages. First, drained liquidity from the pool in USDC stablecoins. They then swapped the USDC into ETH before converting a portion of that to the DAI stablecoin.

They also extracted significant amounts of FRAX, wrapped bitcoin (WBTC), wrapped ether (WETH), and multiple other tokens. These transactions were executed across various chains and included complex swaps designed to mask the movement of the funds.

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In response, GMX used the same chain to send a message directly to the attackers wallet address. The message acknowledged the GMX V1 exploit and proposed a 10% white-hat bounty.

GMX Offers Hacker a $4.2 Million “White-Hat” Bounty

In response to the attack, the GMX team used an on-chain transaction to send a message directly to the attackers wallet address. The message acknowledged the GMX V1 exploit and proposed a 10% white-hat bounty with no legal action attached.

The GMX team offered the hacker a bounty equivalent to about $4.2 million in exchange for the return of the remaining 90% of the stolen assets. The message stated that if the attacker complies within 48 hours, GMX will not pursue any legal action against them.

Blockchain data from Arkham Intelligence shows that the wallet associated with the exploit currently holds nearly $44 million. .

GMX, which launched in 2021 and operates primarily on the Arbitrum network, supports leveraged trading for assets like BTC, ETH, and AVAX. Following the exploit, users and the broader DeFi community are now awaiting a full post-mortem analysis from the team and are closely watching for any further on-chain movements by the exploiter.

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