Decentralized Exchange GMX exploited for $ 42m, offered a hacker 10% White Hat Bounty
Decentralized Perpetual Exchange GMX is exploited with more than $ 42 million worth of crypto stolen, according to Blockchain Security Firm Peckshield.
So far, $ 9.6 million worth of funds has been -bridged with the Ethereum blockchain, which has been a natural path for hackers who then launder the funding through the Tornado Cash Protocol mixing token.
The remaining $ 32 million remains in the abritrum, a Layer-2 network hosting the GMX exchange.
More than $ 10 million worth of legacy frax dollars have been stolen as well as $ 9.6 million of btc wrapped (WBTC) and $ 5 million of Dai Stablecoin.
GMX developers responded to the hacker, who signed a message to the chain that read: “We want to offer a 10% white-up amount for the return of the exploited fund.”
A white-hat bounty is offered to ethical hackers that find weaknesses in protocols and in return will receive a significant amount.
Exploitation is another blight in a cryptocurrency industry who has seen investors lose $ 2.5 billion in hacks and scams in the first half of 2025, according to a certik Report.
