GMX Hackers Return 90% of the Stolen Money, Prompting Token Rally

Hackers returned 90% of the assets recently stolen in the GMX hack. Correspondingly, the GMX token rose 15%, recovering most of the damage from the incident.

Nonetheless, GMX has yet to clearly describe how the attack took place. Hopefully, the team can patch up any security vulnerabilities and restore user confidence.

Two days ago, the GMX hack took the whole community by surprise, pillaging $42 million from the popular decentralized exchange.

After it happened, developers encoded a message to the attackers, offering a 10% white hat bounty if they returned 90% of the funds. In exchange, GMX wouldn’t pursue legal action. Apparently, the hackers took them up on the offer:

The #GMX hacker chose to return the stolen $42M assets for a $5M white-hat bug bounty.

Currently, $10.49M $FRAX has been returned.

Another $32M assets had been swapped into 11,700 $ETH, which is now worth $35M—netting a ~$3M gain.