GMX DEX Hacked for $42M—Offers Attacker 10% ’White Hat’ Bounty in Bold Move

Decentralized exchange GMX reels from a $42 million exploit—but turns the tables with an unorthodox counteroffer.

The heist: An unknown attacker drained funds from GMX's liquidity pools in a meticulously executed smart contract exploit. The platform confirmed the loss amounts to a staggering $42 million.

The gambit: In a plot twist straight out of a cyber thriller, GMX publicly offered the hacker a 10% white hat bounty—$4.2 million—to return the remaining funds. 'Keep it as a fee for stress-testing our protocol,' the proposal quipped.

The irony: Traders joked about the hacker technically becoming GMX's highest-paid security consultant—until the next 'audit' happens. Meanwhile, centralized exchanges quietly patted their cold wallets.

Will the hacker take the deal? In crypto's Wild West, even outlaws get performance bonuses.