Pirates made 90% of the active as recently stolen in the GMX hack. Likewise, the GMX token increased by 15%, recovering most incident damage.
However, GMX has not yet clearly described how the attack took place. Hopefully the team can repair all security vulnerabilities and restore user confidence.
GMX Hack has largely resolved
Two days ago, the GMX hack took the whole community by surprise, pating $ 42 million from the popular decentralized exchange.
After that, the developers encoded a message to the attackers, offering a bonus at 10% of the white hat if they returned 90% of the funds. In exchange, GMX would not pursue legal proceedings. Apparently, the pirates took care of them:
THE #GMX Hacker has chosen to return the stolen assets of $ 42 million for a $ 5 million bug bonus.
Currently, $ 10.49 million $ Frax was returned.
Another asset of $ 32 million had been exchanged in 11,700 $ EThThis is now 35 million dollars – writing ~ 3 million dollars.
Will the pirate return the 11,700 … pic.twitter.com/xjblak81mf
– Lookonchain (@lookonchain) July 11, 2025
When writing these lines, the vast majority of GMX hack products have already been returned. The GMX token crushed more than 35% after the incident, but it increased by 15% after the attackers began to reimburse the exchange.
This was not enough to reverse all the losses of the tokens, but the community is nevertheless relieved of the news.
In addition, even if the authors made most of the money, they still had the opportunity to enjoy. More specifically, they used Ethereum to whiten the funds after hacking, becoming one of the largest ethn of the week.
The price of Ethereum has increased considerably since the incident took place. In other words, as has been converted into ETH, 10% of the stolen GMX money is now much more than before hacking.
Although there was some speculation that the authors could try to sell this ETH and return the fiduciary currency to GMX, they kept everything on the chain.
Unfortunately, there remains a remaining loose end. We still don’t have a clear idea of how the GMX hack took place. Since cryptographic crimes are so widespread at the moment, this could be very precious information.
If GMX can reassure its users that the feat has been corrected, it could restore some confidence.
Post-GMX pirates return 90% of stolen money, inviting a token rally appeared first on Beincrypto.
