• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Robinhood Expands into Stablecoin Yield with New Earn Structure

chest

Robinhood has launched a new Earn structure offering a 7% APY tied to USDG, entering the stablecoin yield market to attract users and enhance engagement.

user avatarMiguel Rodriguez

MEXC Reports Surge in Demand for SpaceX-linked Derivative Products

chest

MEXC reports a significant increase in trading demand for its derivative products linked to SpaceX, highlighting a trend in crypto exchanges offering synthetic exposure to private assets.

user avatarLuis Flores

Dave Portnoy Reveals Major Losses in Bitcoin Trading

chest

Barstool Sports founder Dave Portnoy reveals significant losses in Bitcoin trading, expressing regrets over his investment decisions.

user avatarArif Mukhtar

SEC Reports Stronger Capital-Raising Environment for Q2 2026

chest

The SEC's latest market statistics update indicates a stronger capital-raising environment for Q2 2026, highlighting increased IPO proceeds and its significance for crypto companies.

user avatarMaria Gutierrez

Farage's Financial Connections to Donor Questioned Amid Lobbying Claims

chest

The investigation into Nigel Farage's lobbying activities reveals his financial ties to billionaire Christopher Harborne, raising concerns about potential conflicts of interest due to a significant undeclared gift before the July 2024 general election.

user avatarZainab Kamara

New Analysis Created Utilizing SEC Data

chest

The report is based on information sourced from the SEC, providing stakeholders with accurate financial insights.

user avatarAndrew Smith

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.