The hacker who exploited the decentralized exchange GMX v1 and stole $40 million has initiated the return of stolen assets. This came after the hacker sent an onchain message promising to return the funds.
Return of Stolen Funds
Almost an hour after sending the message, the hacker began returning the cryptocurrency. So far, the address labeled GMX Exploiter 2 has returned about $9 million in Ether to the GMX team. Additionally, the hacker returned $5.5 million and $5 million in FRAX tokens, totaling around $20 million in assets returned.
GMX's Bounty Offer
The GMX team acknowledged the hacker's skills and offered a bounty of $5 million for the return of the stolen funds. In a message, they stated that the amount could be used by the hacker once the remaining assets are returned. GMX also warned of potential legal actions if the funds were not returned.
Aftermath of the Attack
The attack occurred on Wednesday and targeted a liquidity pool on GMX v1, with the hacker leveraging a design flaw to manipulate the value of GLP tokens. GMX indicated the possibility of legal action against the perpetrator if funds are not returned within 48 hours.
The return of funds highlights the complex relationship between hackers and Web3 projects. While the GMX team offered a reward, it's crucial to recognize the significant risks and repercussions associated with such attacks.
