A hacker who recently drained $40 million from GMX’s
$0
original trading platform, GMX V1, has begun returning the funds, following an agreement with the GMX team.
The return process began after the hacker posted a message on the blockchain. The message was noticed by PeckShield, which confirmed that the hacker had accepted GMX’s offer of a reward for returning the money.
The hacker sent back around $9 million worth of Ethereum
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PeckShield later confirmed two additional transactions, each involving the transfer of FRAX
Following the incident, GMX posted on X on July 10 to address the hacker directly. The team acknowledged the hacker’s skills and offered a $5 million “white hat” reward.
The team said they would help prove the source of the funds so they could be used without risk of being frozen or flagged.
The trading platform also noted that the hacker could retain 10% of the stolen amount, provided that 90% was returned to the addresses listed by GMX. However, GMX warned that if the funds were not returned within 48 hours, they would take legal action.
On July 10, Venn Network researchers stopped a security breach that could have stolen more than $10 million from decentralized finance (DeFi) projects. How? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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