GMX Hack 2025 — $42M Exploit Analysis

An exploiter used re-entrancy bugs in GMX's codebase to steal ~$42M, then returned >90% (~$40.5M) after a 10% whitehat bounty offer.

Details

• Date: 2025-07-15
• Amount Lost: $42,000,000
• Chain(s): Arbitrum, Avalanche
• Category: Re-entrancy Attack
• Technique: Re-entrancy bugs in a version of GMX's codebase
• Status: Partially Recovered
• Amount Recovered: $40,500,000

Full Description

In July 2025, an exploiter used re-entrancy bugs in a version of GMX's codebase to steal approximately $42M in stablecoins and wrapped BTC/ETH. GMX offered a 10% whitehat bounty, after which the exploiter returned more than 90% of the funds (~$40.5M).

Laundering Analysis

No laundering activity observed. Exploiter voluntarily returned >90% of funds after whitehat bounty offer.

Sources

• https://www.certik.com/
• https://www.trmlabs.com/
• https://www.coinpedia.org/

Transaction Hashes

• N/A

Back to Browse