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KyberSwap, a prominent multi-chain decentralized exchange (DEX) aggregator, is in discussions with the hacker responsible for the recent $50 million attack. The platform is proposing a 10% bounty, equivalent to the funds taken from users, in exchange for the safe return of all the stolen assets.
"On the table is a bounty equivalent to 10% of users' funds taken from them by your hack," said KyberSwap to its hacker in an on-chain message.
KyberSwap, a cryptocurrency exchange that was hacked on November 22, currently negotiating a bounty offer with the hacker. The decentralized autonomous organization (DAO) overseeing the KyberSwap decentralized exchange (DEX) has initiated negotiations with the attacker who compromised with a staggering $50 million on November 22.
Decentralized exchange protocol KyberSwap offered a 10% bounty to the hacker who executed an exploit leading to the $47 million loss.
The attacker had said negotiations would start when they are "fully rested," and hasn't been heard from since.
KyberSwap suffered a $46 million loss due to a flaw in its smart contract, highlighting vulnerabilities in DeFi smart contracts and the need for improved security protocols.
Kyber Network Crystal v2 is the multi-chain hub of liquidity protocols. These protocols usually have different origins and they work in Kyber's ecosystem to provide and secure dApps transactions.
Decentralized finance (DeFi) platform KyberSwap has been hacked to the tune of tens of millions of dollars worth of virtual currencies, causing its native asset to dip. Data from blockchain tracker Lookonchain reveals that $46.5 million worth of digital assets were stolen from KyberSwap, including $20.78 million worth of Wrapped Ethereum (wETH), $9.
KyberSwap, a decentralized exchange protocol, found itself in the midst of a security breach resulting in a substantial reported loss of around $47 million from its Elastic Pools liquidity solution.
By exploiting a bug, the attacker caused liquidity to be "double counted," allowing them to get an unfair price for a swap.
The KyberSwap attacker posts on-chain messages detailing the protocol exploit, even saying thank you.
A hacker who used TornadoCash to steal $45 million from decentralized exchange aggregator KyberSwap has reached out to negotiate with the team behind the protocol. The perpetrator said negotiations would take place when they “were fully rested.
The exploit targeted funds within KyberSwap's Elastic Pools liquidity solution. KyberSwap urged all users to promptly withdraw their funds.
Kyber Network has asked all of its users to promptly withdraw all their funds without clicking on any suspicious links or DMs.
From two popular exchanges losing millions to a Netflix director making millions from memecoins, here is a 2-minute breakdown of everything important that happened in crypto today.
KyberSwap, a decentralized exchange (DEX), has recently been exploited, resulting in a significant loss of approximately $46 million. This incident has raised serious concerns in the DeFi space. The attacker managed to exploit a vulnerability in the DEX's smart contracts, leading to a substantial decrease in the Total Value Locked (TVL) on the platform.
The KyberSwap hacker has shown a willingness to negotiate after exploiting the decentralized exchange for around $45 million, according to on-chain messages. The attacker publicly messaged KyberSwap, stating negotiations would commence shortly after adequate “rest:” “Dear Kyberswap Developers, Employees, DAO members, and LPs, Negotiations will start in a few hours when I am fully rested.
The leading decentralized exchange, KyberSwap, has suffered a hack of almost $50 million. And the project's administrators have urged users to withdraw their funds as a safety measure.
KyberSwap has advised all users to withdraw their funds from the exchange as a precautionary measure, with the exploiter stating he is open to negotiations.
The exchange has advised users to withdraw all funds, while the hacker teases negotiations.
Kyber Network, a prominent player in the decentralized finance (DeFi) sector, has fallen victim to a major security breach.
The Kyber Network team has confirmed the incident, urging users to promptly withdraw their funds.
In a startling development, the decentralized exchange, KyberSwap has fallen victim to a significant exploit, resulting in the loss of approximately $46 million in various cryptocurrencies. According to the update given by KyberSwap on X, the attack targeted KyberSwap Elastic, prompting urgent advisories for users to withdraw funds.
According to on-chain data, the decentralized exchange system KyberSwap looks to have been the victim of a $47 million hack. The funds came through the company's Elastic Pools liquidity solution.
