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

Cross River Bank Integrates Ripple's RLUSD Stablecoin for Enhanced Payment Solutions

Cross River Bank integrates Ripple's RLUSD stablecoin to enhance payment solutions for fintech customers.

user avatarTomas Novak

Stocklinked Tokens in DeFi Surge to $2.624 Billion

Stocklinked tokens in decentralized finance reached approximately $2.624 billion by the end of September 2026, marking an 18-fold increase from the beginning of the year.

user avatarKaterina Papadopoulou

Fidelity's Assessment Highlights Solana's Improved Reliability

Fidelity's assessment indicates Solana has operated for over two years without major outages, achieving a 99.7% vote success rate, but warns of concerns regarding validator concentration.

user avatarMaya Lundqvist

BitTorrent Unveils New Whitepaper and Brand Upgrade for Web3 and AI

In October 2023, BitTorrent unveiled a comprehensive brand upgrade and a new whitepaper outlining a tripartite architecture for decentralized content distribution and compute, aiming to enhance operational efficiency for Web3 and AI applications.

user avatarLeo van der Veen

JUST Completes Fifth Buyback and Burn of JST Tokens

JUST has successfully completed its fifth buyback and burn of JST tokens, burning over 170 million tokens.

user avatarLi Weicheng

JST Buyback Program Achieves Major Milestone

The JST buyback program has successfully completed one year of operation, burning approximately 188 billion JST tokens across five rounds, resulting in a 300% increase in JST's price.

user avatarAisha Farooq

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.