GMX Hacker Returns $9 Million in ETH Post-Exploit
The post GMX Hacker Returns $9 Million in ETH Post-Exploit appeared on BitcoinEthereumNews.com.
Key Points: GMX decentralized exchange recovers $9 million in ETH after hacker exploit. AvenuDevelopments address recovery with bounty offer for full fund return. Incident in GMX’s history, strategic asset movements assessed. An unidentified hacker returned 3,000 ETH, valued at approximately $9 million, to the GMX decentralized exchange’s security committee multi-signature address, according to monitoring by PeckShieldAlert as reported on July 11. The fund’s return, part of a broader arrangement involving a 10% white hat bounty, highlights the precarious balance in decentralized finance between innovation and vulnerability. GMX Secures Partial Asset Recovery with Bounty Initiative The return of $9 million in Ethereum by the GMX hacker marked a significant step towards protocol recovery following a security breach. While the attack initially involved 11,700 ETH, strategic asset movements and security negotiations led to a scaled-down return of assets. PeckShield monitored the affair, noting the hacker’s sophisticated asset laundering techniques. Reactions focus on GMX’s proactive stance, offering a 10% bounty for the return of stolen assets. This partial return indicates a gradual restoration of market confidence, but with notable caution due to the evident system vulnerabilities. GMX’s total value locked (TVL) and governance token price sparked volatile shifts, emphasizing uncertainties in decentralized finance structure. “PeckShieldAlert, #GMX Exploiter has returned another 5M $FRAX to #GMX: Deployer pic.twitter.com/95xjVqTnad” – PeckShieldAlert, Security Firm, PeckShield Ethereum’s Market Resilience Amid Security Breaches Did you know? Ethereum has been a significant player in the blockchain industry, showcasing resilience even amid various security breaches. Ethereum (ETH) continues to show resilience amid market volatility, with its current price at $3,011.57 and a 24-hour volume of $41.67 billion, showing a 35.53% increase. The cryptocurrency’s market cap is approximately $363.54 billion, demonstrating its significant role in the blockchain industry, as noted by CoinMarketCap data. Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 10:30 UTC…
Filed under: News - @ July 11, 2025 11:28 am