A hacker who exploited the decentralized exchange GMX for over $40 million returned an additional 1,000 ETH, valued at approximately $3 million, to the GMX Security Committee Multisig address on Friday, according to blockchain security firm PeckShieldAlert.
The return brings the total recovered assets to $40.5 million, including 10,000 ETH and 10.5 million FRAX, as tracked via blockchain analysis.
The latest development follows a cyberattack on GMX reported on July 9, 2025, where the hacker stole more than $40 million in various cryptocurrencies. PeckShield confirmed the exploiter initially converted the assets into Ethereum and FRAX, exposing vulnerabilities in the platform despite prior audits.
The return of funds may be linked to GMX’s offer of a 10% bounty, exceeding $4 million, for the return of the stolen assets within 48 hours.
This rare negotiation tactic in the crypto world has raised questions about the security of multisig wallets, with a 2024 Reddit discussion noting Gnosis Safe’s billion-dollar holdings by major DeFi players.
The incident underscores ongoing challenges in securing decentralized finance platforms, though it remains unclear if the hacker will return the remaining funds.
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