GMX hack: $40M don return, $38M don laundé through Tornado Cash
The GMX hack for February 3 show say one front-end weakness allow attacker commot pass $78 million from the DeFi protocol. GMX fix the UI problem within hours and give 10% whitehat bounty with 48-hour time to recover. After secret talks, the attacker return about $40.1 million—$9 million in ETH and $10.49 million in FRAX—to new address. PeckShield check these transactions. The remaining $38 million for USDC and USDT dem wash am through Tornado Cash, so e hard to trace on chain. GMX praise the hacker technical sabi and tell traders say the recovered money go use am safely. This matter show how important strong front-end security, quick incident response, good bug bounty program, and negotiated recovery model for DeFi security. Overall, the GMX hack dey show how DeFi security dey evolve.
Neutral
Di GMX hack bin first make traders no trust di system and e fit cause say people go sell their GMX tokens quick quick because dem worry about security. But di quick UI patch, fast way to recover part money with whitehat bounty plus beta communication with di hacker don help reduce di wahala. For long run, dis incident show say strong front-end security and good bug bounty programs dey important, e fit make people trust GMX protocol more. Overall, di balance between di bad effect and how dem take handle am well mean say di price for GMX go stay neutral.