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A hacker who exploited GMX’s V1 protocol returned over $40 million in stolen assets after accepting a $5 million white-hat bounty. The incident highlights both vulnerabilities in DeFi and the potential for ethical resolutions.
- GMX V1's design flaw allowed price manipulation of GLP tokens via short positions, leading to a $42M exploit.
- The hacker returned $40M+ in assets after accepting GMX's $5M white-hat bounty, avoiding legal consequences.
- GMX V2, its markets, and the GMX token were unaffected; recovered funds will be distributed via a DAO proposal.
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