In an unexpected move, hackers who stole over $40 million from the on-chain perpetual & spot exchange GMX agreed to pay the millions following the exchange team sent a $5 million white-hat bug bounty.
“The white-hat bug bounty of $5 million continues to be available”, wrote GMX in an X post. The team sent a message to the attacker offering $5 million as the bounty in exchange for the stolen funds. According to reports, $10.49 million worth of FRAX has been returned, and another $32M assets have been swapped into 11,700 Ethereum.
On July 9, GMX announced a security breach on its GMX V1 and GLP pool, where bad actors transferred approximately $40 million in tokens from the Arbitrum network to the Ethereum network through bridging. Following the hack, the company executives had been frequently updating about their active attempts to resolve the issue.
