{"id":35986,"date":"2025-07-09T15:02:19","date_gmt":"2025-07-09T15:02:19","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35986"},"modified":"2025-07-09T15:02:19","modified_gmt":"2025-07-09T15:02:19","slug":"decentralized-exchange-gmx-exploited-for-42m-offers-hacker-10-white-hat-bounty","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35986","title":{"rendered":"Decentralized Exchange GMX Exploited for $42M, Offers Hacker 10% White Hat Bounty"},"content":{"rendered":"<div>\n<p>Decentralized perpetual exchange GMX has been exploited with over $42 million worth of crypto being stolen, according to blockchain security firm <a href=\"https:\/\/x.com\/peckshield\/status\/1942947860645134450?t=MmeGuXH-xcdRwNzeuop8MQ&amp;s=19\">PeckShield<\/a>.<\/p>\n<p>So far, $9.6 million worth of the funds have been bridged over to the Ethereum blockchain, which has become a natural path for hackers who then launder funds through token mixing protocol Tornado Cash.<\/p>\n<p>The rest of the $32 million remains on Abritrum, a layer-2 network that hosts the GMX exchange.<\/p>\n<p>More than $10 million worth of legacy frax dollar was stolen as well as $9.6 million of wrapped btc (wBTC) and $5 million of the dai stablecoin.<\/p>\n<p>GMX developers responded to the hacker, signing a message on-chain that read: &#8220;We want to offer a 10% white-hat bounty for the return of the exploited funds.&#8221;<\/p>\n<p>A white-hat bounty is offered to ethical hackers who find vulnerabilities in protocols and in return receive a bounty.<\/p>\n<p>The exploit is another blight on a cryptocurrency industry that saw investors lose $2.5 billion to hacks and scams in the first half of 2025, according to a CertiK <a href=\"https:\/\/www.coindesk.com\/business\/2025\/07\/01\/crypto-investors-lost-usd2-5b-to-hack-and-scams-in-the-first-half-of-2025\">report<\/a>.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized perpetual exchange GMX has been exploited with over $42 million worth of crypto being stolen, according to blockchain security firm PeckShield. So far, $9.6 million worth of the funds have been bridged over to the Ethereum blockchain, which has become a natural path for hackers who then launder funds through token mixing protocol Tornado [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35986","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35986"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35986\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}