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GMX Hacker Converts All Assets Except FRAX to ETH, Declines White Hat Bounty
The GMX hacker has converted all stolen assets, except for FRAX, into ETH. According to on-chain data monitor Yu Yan, the hacker exchanged the assets stolen from the GMX V1 pool, which included WBTC, WETH, UNI, FRAX, LINK, USDC, and USDT, into 11,700 ETH (approximately $32.33 million). These funds have been distributed across four wallets. Currently, the hacker controls five wallets holding 11,700 ETH and 10.495 million FRAX, totaling a value of about $42.8 million. This move also indicates the hacker declined the project's white hat bounty offer for asset return, which was 10%.
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AI Analysis
Analyzing this incident, the hacker's choice to convert almost all stolen assets into ETH suggests an effort to consolidate and increase liquidity for potential future use or sale. ETH's status as a m...
AI Recommendation
Investors and stakeholders should remain cautious and monitor the situation closely. The large disbursement and conversion into ETH could lead to market volatility, especially if significant amounts a...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.