KyberSwap Elastic Experiences A Hack

Twitter icon  •  Published 6 months ago  •  Hassan Maishera

The Kyber Network team announced via X (formerly Twitter) on Thursday that its KyberSwap Elastic experienced a hack.

The Kyber Network team announced via X (formerly Twitter) on Thursday that its KyberSwap Elastic experienced a hack. As a precautionary measure, the team advised all users to promptly withdraw their funds. Kyber Network said they are diligently investigating the situation, and remain committed to keeping users informed with regular updates.

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 down by 2% in the last 24 hours and currently trades at $0.727.

Next article Dabba Rolls Out 10,000 Hotspots for its DePIN Users

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.