KyberSwap, a decentralized exchange (DEX) holding assets exceeding $80 million, has fallen victim to a cyberattack, resulting in losses estimated at around $50 million. Administrators are urging users to initiate fund withdrawals as a precautionary step.
Blockchain data reveals that the perpetrator primarily absconded with assets denominated in Ethereum, wETH (wrapped Ether), and USDC (US Dollar Coin).
Furthermore, the hacker targeted various cross-chain instances of KyberSwap, netting approximately $20 million from Arbitrum, $15 million from Optimism, and $7 million from Ethereum.
Research conducted on the blockchain suggests a possible connection to a vulnerability in the DEX's confirmation authorization code, indicating that the theft constitutes an assault on the liquidity provider pools at their core.
The hacker made light of the situation by quipping, "Negotiations will commence shortly once I've had a chance to recharge fully." Additionally, the attacker inquired, "How's the weather in Ontario this season?"
The act of hackers taunting their targets by appending messages with random strings of text has become a growing phenomenon in decentralized finance breaches.
As of now, KyberSwap's total value locked (TVL) stands at $22.23 million, a significant decline from its previous holdings of approximately $80 million prior to the attack.
