GMX Hacker has now swapped all assets to ETH except for FRAX, indicating a rejection of the white-hat proposal put forth by GMX.

By: theblockbeats.news|2025/07/10 10:02:02

BlockBeats News, July 10th, according to on-chain data analyst Yujin, the GMX hacker has successfully converted the assets stolen from the GMX V1 pool to ETH.

The stolen assets include WBTC/WETH/UNI/FRAX/LINK/USDC/USDT. Currently, all assets except FRAX have been sold and converted to 11,700 ETH (approximately 32.33 million) and dispersed into 4 wallets for storage.

The GMX hacker now holds 11,700 ETH and 10.495 million FRAX through 5 wallets, with a total value of $42.8 million. This operation should also indicate that the hacker has rejected the GMX team's proposal to return the assets in exchange for a 10% white-hat bounty.

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