Kyber Network Reports A KyberSwap Exploit

Twitter icon  •  Published 1年前  •  Hassan Maishera

The Kyber Network team announced via a Medium post on Thursday that its KyberSwap has suffered a frontend exploit.

The Kyber Network team announced via a Medium post on Thursday that its KyberSwap has suffered a frontend exploit. The team said it e identified and neutralized an exploit on the KyberSwap frontend. The team added that $265K of user funds were lost, with 2 affected addresses, and users will be compensated. It appears the attacker was targeting whale wallets.

Forensic investigations are already underway to identify further information about the attackers, and KyberSwap is in touch with various exchanges to block any funds transferred from the attackers’ wallets and identify them, the Kyber Network added. 

Kyber Network is an on-chain liquidity protocol that aggregates liquidity reserves to allow instant and secure token exchange in multiple decentralized applications (dApps). KNC, the native token of the Kyber Network, is up by more than 2% in the last 24 hours and currently trades at $1.750.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.