High-profile hacks are shaking the crypto world more often than ever. One of the most notable in recent months was the attack on the decentralized exchange GMX, which lost $42 million due to a vulnerability in its infrastructure. Although the GMX team has confirmed the breach, the incident raises an important question: how is this still possible in a decentralized world?

What happened?

On July 9, it became known that unknown attackers had drained over $42 million from addresses linked to the GMX Vault — a liquidity pool used for derivatives trading. The funds were quickly bridged from the Arbitrum network to Ethereum — a common move by hackers to “launder” assets and complicate tracking.

A few hours later, GMX acknowledged the exploit and sent a message to the hacker, offering to let them keep 10% as a bug bounty if they returned the remaining 90% — in exchange for immunity from legal action.

According to PeckShield, about $10.5 million has already been returned. But the damage was done: trading and token issuance for GMX v1 were suspended, and the GMX token price dropped by 20%.

Why did this happen?

This isn’t an isolated case. According to TRM Labs, hackers stole $2.1 billion from crypto platforms in the first half of 2025 alone — an all-time record.

The reasons? Vulnerabilities in smart contracts, security design flaws, human error. And even decentralization can’t save a protocol if the flaw lies deep in its core logic.

But the deeper issue is this: users continue trusting complex DeFi products without having full control over their funds. Every major exploit is a reminder — trust without control is a risk.

DexSAFE: Your Alternative to Centralized Chaos

In this environment, safety isn’t enough — autonomy is essential. That’s why DexSAFE was created: a crypto wallet where you are the only one in control of your assets.

Here’s how DexSAFE tackles the issue:

✅ Full Control: Seed Phrase + Passphrase
Only you know your keys. Your assets aren’t locked in someone else’s vault with hidden bugs — they’re stored in a secure wallet that can only be recovered with your personal seed phrase, written down by you. No one — not even the DexNet team — has access.

For enhanced protection, there’s also a passphrase — an advanced layer of security that most standard wallets don’t offer.

✅ Total Privacy, No Central Points of Failure
DexSAFE requires no documents and collects no data. There are no centralized servers to hack. Everything is decentralized — and stays entirely in your hands.

✅ Security Without Compromise
The wallet runs on the proprietary DexNet architecture, free from traditional cloud services or centralized infrastructure. Even if your device is lost, recovery is possible from any other device — as long as you keep your recovery phrase safe.

While Platforms Lose Millions, You Stay in Control

GMX is just one name on a growing list. Tomorrow, it could be any DeFi project. We can’t stop hackers — but we can give you a tool where you have all the power and no intermediaries.

Choose DexSAFE — the wallet where your assets stay under your control.

Available now on the App Store and Google Play.

DexSAFE: Protection You Control. Peace of Mind You Deserve.

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