Hacker Refunds $40 Million Taken from GMX, Receives $5M Reward

Only two days after stealing around $42 million in cryptocurrencies from GMX, the hacker has started returning the stolen assets. The cybercriminal has given back at least $40.5 million in crypto assets, including ether (ETH) and Legacy Frax Dollar (FRAX). The hacker had exploited a weakness in GMX’s smart contracts, enabling them to artificially inflate the price of the GMX liquidity provider token.

However, in response to GMX's offer of a 10% bounty with no legal repercussions, the hacker began returning the stolen funds. They returned a total of $40.5 million, and accepted a bounty of approximately $4.5 million. GMX has confirmed that the incident did not affect its V2 protocol, which does not have the vulnerability exploited in V1.