GMX, DeFi Hack, Reentrancy Attack, Arbitrum, White Hat Bounty, Crypto Security, Smart Contract Risk, FRAX, Ethereum, Onchain Exploit

GMX Hacker Returns $40M After $5M White‑Hat Bounty

A $42 million exploit hit GMX v1 after a reentrancy vulnerability was abused on Arbitrum. Following a $5 million white-hat bounty offer and legal immunity, the attacker began returning funds, with over $40 million ultimately restored. The incident highlights both DeFi risk and the evolving role of white-hat negotiations.