The decentralized exchange GMX recently faced a significant security breach, with over $40 million worth of crypto assets being stolen. In a surprising turn of events, the hacker accepted GMX's offer of a $5 million white-hat bounty and began returning the stolen funds. This resolution has been positively received by the crypto community, highlighting the effectiveness of incentivizing ethical behavior among hackers.
Following the return of the funds, GMX's native token experienced a substantial increase, soaring over 20% in value. This surge was driven by renewed investor confidence and a notable move by a crypto whale, suggesting potential for further market growth. The incident underscores the ongoing security challenges in the crypto space while also demonstrating the resilience and adaptability of decentralized platforms like GMX.
The GMX Exploit: A $40 Million Heist and Its Aftermath
September 24, 2025
1 min read
The decentralized exchange GMX recently faced a significant security breach, with over $40 million worth of crypto assets being stolen. In a surprising turn of events, the hacker accepted GMX's offer of a $5 million white-hat bounty and began returning the stolen funds. This resolution has been positively received by the crypto community, highlighting the effectiveness of incentivizing ethical behavior among hackers.