In response, GMX has sent an on-chain message to the hacker offering a 10% white-hat bounty.
The platform stated that no legal action will be pursued if the remaining funds are returned within 48 hours. This move mirrors common damage control tactics used by DeFi protocols facing major exploits.
Following the attack, the platform’s token dropped 17% to a two-month low of $11.7 as of press time.
According to official metrics, the platform has processed over $305 billion in trading volume and collected more than $435 million in fees.
Blockchain data reveals that about $9.6 million has already been bridged to Ethereum’s mainnet, while the remaining funds remain on the Arbitrum network.
Meanwhile, security experts have criticized Circle, the issuer of USDC, for its slow response to the incident.
The attacker has since shifted the USDC into DAI, a decentralized stablecoin on Ethereum.
