KyberSwap guarantees a ten% bug reward if hackers refund the funds

The KyberSwap staff made available a ten% hacking reward to the attacker right after he sent a message saying he was ready to negotiate to spend.

KyberSwap guarantees a ten% bug reward if hackers refund the funds. Photo: Kyber Network

As reported by Coinlive on November 23, 2023, DEX KyberSwap was attacked by way of flash lending creating a reduction of $47 million. Hackers targeted KyberSwap’s elastic liquidity pools, as a result stealing assets on lots of KyberSwap-backed blockchains to open liquidity pools, together with Ethereum, Arbitrum, Optimism, Base, Polygon,…

It did not halt there, The neighborhood also highlighted the hacker’s “audacity” in the two building withdrawal transactions and leaving guidelines describing his actions. He also sent an on-chain message to the Kyber staff, stating that he was ready to negotiate for the return of the funds, but would have to wait “until he is fully rested.”

However, a lot more than a day has passed given that the hack and the attacker has not sent any a lot more messages. The cryptocurrency neighborhood identified that hackers sent one,000 ETH to a wallet tackle that obtained money from the 2020 Indexed Finance hack, suggesting the two could be linked.

After exchanging the money into ETH, the hacker sent one thousand ETH to an tackle that had obtained money from the @ndxfi Indexed Financial Exploit, 0x84E.

Follow exploiter KyberSwap on Arkham:https://t.co/v7yVThJfDX

— Arkham (@ArkhamIntel) November 23, 2023

By noon on November 24, 2023, the KyberSwap staff responded immediately to the attacker, with a reward equal to ten% of the worth of the hack, or somewhere around $four.seven million. KyberSwap co-founder Victor Tran suggestion The hacker will refund 90% of the hacked quantity to the wallet tackle specified in the message in advance of 1pm on November 25, 2023, Vietnam time.

Second data from DefiLlama, following the information of the confirmed hack, the TVL of KyberSwap DeFi goods dropped to $27 million from the unique $87 million. Currently this figure continues to “fall” to only $seven.64 million.

KyberSwap TVL Volatility. Photo taken at five.57pm on November 24, 2023 on DefiLlama

The selling price of Kyber Network’s KNC token has not transformed considerably given that it was very first hacked, presently trading all-around $.72.

15-minute chart of KNC/USDT pair on Binance as of 05:58 on November 24, 2023

Coinlive compiled

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