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In a stunning turn of events, the perpetrator behind the Kyberswap exploit has initiated an act of laundering. Reports indicate that approximately 4.5 million worth of stolen assets are already being funnelled into Tornado Cash, a renowned privacy-focused platform.
The KyberSwap hacker is moving funds into Tornado Cash, according to data from CertiK.
The grant is designed to ease the financial burden on affected individuals and will equal the USD equivalent of the assets lost in the security breach.
KyberSwap made an announcement on December 1st outlining their initiative to aid users affected by a recent security breach.
KyberSwap announced on Dec. 1 that it will offer grants in order to compensate users affected by a recent exploit. The decentralized exchange acknowledged that a recent attack drained $48.
After the unrealistic demands from its exploiter to take over the Kyber Network, the exploited decentralized exchange KyberSwap has made a different pivot in its revival push. The exchange said it will reimburse users who were exposed to the security breach recorded last month.
KyberSwap has revealed plans to offer financial support to affected users. The decentralized finance protocol suffered a substantial exploit on November 22, resulting in a loss of $48.8 million.
Law firm Cadena Legal said that the guidance released by the Australian Taxation Office is “non-binding” and must be treated as “toilet paper.”
Victims who lost and have not recovered funds from the hacked liquidity pools will get a grant equivalent to the funds in USD.
In the aftermath of the recent KyberSwap Elastic incident, Kyber Network has announced its intention to provide compensation to victims. Coincu News
In a daring move that has sent shockwaves through the cryptocurrency and decentralized finance (DeFi) communities, a mysterious hacker who infiltrated the Kyber Network in November has demanded complete control of the protocol, including governance infrastructure.
Both parties failed to reach an agreement on the safe return of the stolen assets despite Kyber offering the hacker 10% of the funds, which amounted to $4.3 million.
KyberSwap, a decentralized exchange aggregator, faced a breach by an unknown hacker who demanded control in exchange for returning the stolen funds, setting conditions for Kyber's governance.
The hacker demanded complete authority over the governance mechanism of KyberSwap, and the surrender of both on-chain and off-chain assets.
The self-proclaimed "Kyber Director," who drained $48 million from KyberSwap, outlined their vision—including a purge of current leadership.
Kyber Network faces a critical decision as a hacker's December 10 deadline nears.
The hacker responsible for the $48 million KyberSwap heist has escalated their demands, now seeking complete executive control over the decentralized exchange (DEX). The hacker revealed the updated demands in an on-chain message sent on Nov. 30.
The hacker who stole millions from decentralized exchange aggregator KyberSwap has demanded full “executive control” of the “Kyber company.” The return of stolen funds is contingent on the KyberSwap management meeting their demands by Dec. 10x, which highlights a problem with decentralization in general.
The recent incident involving KyberSwap has caught the attention of the entire crypto community. A hacker managed to breach the platform's defenses, resulting in a theft of $46 million. However, the most striking aspect is the unusual conditions the hacker set for the return of the funds.
A black hat hacker proposed a takeover of KyberSwap's protocol with terms including a doubling of employee salaries and executive buyouts.
The KyberSwap hack has been well known by the entire crypto industry for many days, and the shocking demands of hackers are catching the attention of investors. The hacker behind the $46 million KyberSwap exploit has proposed an unusual deal by seeking complete executive control over the Kyber company.
The hacker responsible for draining $47 million from KyberSwap last week has demanded full control over Kyber in a bizarre on-chain message.
This audacious move includes temporary full authority over the governance mechanism and access to sensitive company information. Also, the surrender of all assets, and a promise to transform Kyber into an entirely new project.
The individual claiming responsibility for the hack on KyberSwap, a multi-chain decentralized exchange (DEX) aggregator, has issued a set of astonishing demands.
