Why gmx Is Trending Today?

GMX, a decentralized exchange, was hacked for $40 million in crypto. The hacker initially converted the stolen funds into 11,700 ETH and laundered them across Ethereum and Arbitrum. However, they later started returning the stolen funds, with over $9 million in ETH already reimbursed. The hacker also accepted a $5 million bounty offered by the GMX team, resulting in a net profit of $3 million from the exploit.

GMX, a decentralized exchange, suffered a $40-$42 million exploit, leading to a 20% price dive. The hacker converted stolen crypto to ETH and laundered funds through CrowSwap, rejecting a $4.2 million bounty. GMX halted trading and token minting, and Bithumb designated it a closely monitored asset.