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    Home»Crypto News»Crypto Hacker Who Drained $42,000,000 From GMX Goes White Hat, Returns Funds in Trade for $5,000,000 Bounty – The Every day Hodl
    Crypto Hacker Who Drained ,000,000 From GMX Goes White Hat, Returns Funds in Trade for ,000,000 Bounty – The Every day Hodl
    Crypto News

    Crypto Hacker Who Drained $42,000,000 From GMX Goes White Hat, Returns Funds in Trade for $5,000,000 Bounty – The Every day Hodl

    By Crypto EditorJuly 13, 2025No Comments3 Mins Read
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    A crypto hacker who stole tens of thousands and thousands of {dollars} from the decentralized crypto perpetuals change GMX (GMX) is popping white hat by returning the stolen funds to gather a bounty.

    In a brand new thread on the social media platform X, GMX says the hacker who stole $42 million price of crypto belongings earlier this week from its Arbitrum (ARB)-based liquidity pool is returning the funds and accumulating a $5 million reward.

    “A possible exploitable quantity of $42 million belonging to GLP holders was secured. After fee of a $5 million bounty to the consumer, the remaining funds at the moment are safely within the GMX Safety Multisig.

    Contributors are engaged on a proposed distribution plan for presentation to the GMX DAO (decentralized autonomous group) and can share extra data shortly.”

    In keeping with earlier reviews, the hacker struck on July ninth and transferred a part of the funds to an unknown pockets. On the time, GMX stated the exploit was restricted to GMXV1 and that V2, its markets and liquidity swimming pools, in addition to the ecosystem’s native asset, have been unaffected.

    In its report on the incident, GMX says the exploit was a re-entrancy assault, or a sort of hack that impacts sensible contracts by benefiting from a vulnerability offered when a wise contract makes a name to a different earlier than updating itself, leaving open the chance for an exterior malicious contract to enter in.

    Information of the returned fund despatched GMX skyrocketing, because the digital asset is buying and selling for $13.36 at time of writing, an 18.4% improve over the past 24 hours.

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    Crypto Hacker Who Drained $42,000,000 From GMX Goes White Hat, Returns Funds in Trade for $5,000,000 Bounty – The Every day Hodl

    Disclaimer: Opinions expressed at The Every day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in internet affiliate marketing.

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