KyberSwap Offers a 10% Reward for the Retrieval of $50 Million in Stolen Assets

KyberSwap Offers a 10% Reward for the Retrieval of $50 Million in Stolen Assets

user avatar

by Max Nevskyi

3 years ago


Taking a courageous step towards reclaiming stolen assets, KyberSwap, a well-known decentralized exchange (DEX), has extended a 10% reward to the individual behind a recent $50 million heist. This endeavor signifies a notable stride in the platform's commitment to negotiating and protecting user funds.

Following the incident on November 22, the decentralized autonomous organization (DAO) overseeing KyberSwap initiated contact with the hacker, suggesting the possibility of negotiations. The hacker, having indicated the need for some rest before engaging in talks, has remained unresponsive ever since. The attack was specifically directed at the platform's liquidity pools, resulting in a significant decrease in its total value locked (TVL), plummeting from $80 million to just $7.78 million.

KyberSwap's proposition involves offering a reward amounting to 10% of the stolen user funds. The DAO's communication, dispatched from a contract deployer wallet, recognized the sophistication of the hack and underscored the significance of returning the pilfered assets to the platform's users. The DEX has set a deadline of November 25, 06:00 UTC, for the return of the funds.

The trend of hackers taunting their targets by using signed transactions containing text messages is on the rise within the realm of decentralized finance (DeFi) breaches. This approach also offers a means for protocol teams to initiate discussions with the individuals responsible for the attacks.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Sui Maintains Over $1 Billion in DeFi Liquidity

Sui continues to hold more than $1 billion in decentralized finance liquidity, with active on-chain trading.

user avatarDiego Alvarez

EigenLayer Surpasses $11 Billion in Total Value Locked

EigenLayer has achieved a significant milestone by moving back above the $11 billion mark in total value locked, indicating strong economic security in the Ethereum restaking sector.

user avatarKenji Takahashi

ZetaChain Token Holders Approve Migration to Solana

ZetaChain token holders have approved the migration of ZETA to the Solana blockchain, transitioning to a native SPL token while maintaining its ticker and total supply.

user avatarGustavo Mendoza

Hyperliquid Achieves $140 Billion in Perpetual Trading Volume

Hyperliquid generated approximately $140 billion in perpetual trading volume over a 24-hour period on September 21.

user avatarMaria Fernandez

Chainlink Releases Version 2640 for Node Operators

Chainlink has launched version 2640, focusing on infrastructure improvements for oracle nodes.

user avatarRajesh Kumar

Aptos Labs Releases Validator Node Hotfix to Ensure Network Stability

Aptos Labs has released a hotfix for validator nodes to address consensus and statesync issues in the mainnet infrastructure.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.