GMX Hacker Pulls a Stunning U-Turn, Returns $37.5M in Stolen Crypto!

From Thief to Restitution: A Wild Turn of Events

Holy smokes! The cyber crook who swiped millions from GMX's V1 GLP pool just days ago has done the unthinkable—they've started sending the loot back!

The Money Trail: A Massive $37.5M Refund

Get this: on-chain sleuths at PeckShield Alert spotted the GMX hacker returning a whopping $37.5 million in stolen goodies. We're talking several chunks of ETH and FRAX flying back to the protocol around 8:00 AM UTC. That's nearly 90% of the $42 million they snatched just 48 hours earlier. Unbelievable!

A Bounty and a Promise: The GMX Deal

So, what flipped the script? GMX threw out a 10% bounty for the safe return of the funds, with a tight 48-hour deadline and a vow not to chase legal action. And guess what? It worked!

The Hacker's Pledge: "Funds Will Be Returned"

In a twist straight out of a movie, the hacker dropped an on-chain message saying, "Ok, funds will be returned later." And boom—they followed through with those transfers!

GMX's Response: A Token Surge and a Grateful Nod

The native token GMX soared 16% on this news, clawing back from a brutal 28% plunge right after the heist. While GMX hasn't officially confirmed the receipt yet, they sent a heartfelt thank you on-chain: "Thank you, we greatly appreciate this."

The Mystery Remains: Will the Rest Come Back?

Now, the big question: will the hacker cough up the remaining $4.5 million? It's anyone's guess at this point.

A Year of High-Stakes Heists: GMX Joins the Ranks

The GMX hack is one of the biggest exploits we've seen this year. Remember Bybit? They got hit for a mind-blowing $1.4 billion by the notorious North Korean hackers, Lazarus. And let's not forget Cetus Protocol, drained for $223 million. Crazy times!

Bybit's Bounty: Still Waiting for Justice

Just like GMX, Bybit dangled a 10% bounty to get their funds back. But so far, they've come up empty-handed.