A hacker who stole $42 million in crypto from the GMX exchange is giving it all back—and getting a hefty reward for their trouble.
The Heist and the Return
Earlier this week, a hacker exploited a vulnerability in GMX’s Arbitrum-based liquidity pool, making off with $42 million worth of cryptocurrency. GMX reported that the attack was a “re-entrancy attack,” a type of hack that targets smart contracts. Luckily, only the older GMXV1 version was affected; GMXV2 and its ecosystem remained untouched.
But here’s the twist: the hacker has returned the stolen funds. In exchange, they’ll receive a $5 million bounty. GMX announced this on X (formerly Twitter), stating that the remaining funds are now secure and a plan for distributing them is in the works.
GMX’s Price Soars
News of the returned funds sent GMX’s price soaring. At the time of writing, it’s up 18.4% in the last 24 hours, trading at $13.36.
Disclaimer:
This information is for general knowledge only and does not constitute financial advice. Investing in cryptocurrency is risky, and you could lose money. Always do your own research before making any investment decisions.