According to EmberCN, the GMX project team sold 10,000 ETH for 29.597 million USDT at an average price of $2,959 per coin. This action followed a hacker's return of assets, which included the 10,000 ETH (valued at $30 million) and 10.495 million FRAX stablecoins. The source suggests that converting the returned Ethereum into the stablecoin USDT is likely a strategic move to prepare for refunding assets to the affected users, as monitored via the GMX Security Committee's multi-signature address.