I recently saw that the exploiter behind GMX’s $40M‑42M exploit on its V1 GLP liquidity pool has begun returning the stolen funds. After announcing “Ok, funds will be returned later” on‑chain, the attacker sent back roughly $9M in ETH and about $10.5M in FRAX – in total, nearly $20M so far .
GMX had offered a 10% “white‑hat” bounty (around $4M) and a 48‑hour legal grace period to incentivize a return. The attacker accepted, and the team even guaranteed proof of fund origin if needed .
So far, half of the loot is back on‑chain. It feels like a relief, even if there’s still work ahead, and a sign that these bounty incentives can actually work.
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