Decentralized exchange GMX suffered a theft of over $40 million in cryptocurrency, prompting an investigation and suspension of trading. The hacker quickly laundered the stolen funds across various cryptocurrencies, while the platform offered a bounty to encourage return of the stolen assets. #GMX #cryptotheft
Keypoints
- GMX experienced a security breach resulting in the theft of approximately $43 million.
- The stolen funds were rapidly laundered into ethereum, USDC, and DAI cryptocurrencies.
- GMX offered a 10% bounty to the hacker for the return of the funds, with no legal action threatened.
- Security experts and companies provided technical guidance to prevent similar vulnerabilities.
- Crypto exchanges face increasing cyberattacks, with $2.1 billion stolen in the first half of 2025 alone.
Read More: https://therecord.media/gmx-exchange-cryptocurrency-stolen