BREAKING: KyberSwap Hacker Makes Demands

November 30, 2023 10:52 am Comments

The KyberSwap hacker responsible for the recent $47 million exploit has finally broken his or her silence.

Instead of laying out reasonable terms or perhaps being gracious enough to accept a bug bounty, the KyberSwap hacker has instead chosen to make grandiose demands of the company.

In an on-chain message sent on Thursday, the hacker demanded full control of the Kyber company and the Kyber DAO. The hacker also informed the company that if any law enforcement personnel are contacted the offer will be terminated.

Additionally, the hacker has set a deadline of December 10, 2023, for these demands to be met or else the $47 million will never be returned and the ‘offer’ will no longer be valid.

This exploit represents yet another high-profile hack in the DeFi ecosystem, alongside the Poloniex hack that ProCoin News recently covered. Below is the on-chain message sent by the Kyber hacker:

Coin Telegraph explained:

As for liquidity providers, the hacker promised they would be gifted rebates for their recent market-making activity. The rebate will be 50% of the losses that they have incurred. “I know this is probably less than what you wanted. However, it is also more than you deserve,” the hacker wrote.

Founder of Ambient Finance Doug Colkitt analyzed the KyberSwap code and laid out how he believes the hacker was able to exploit the platform and steal the $47 million in funds.

This isn’t the first time KyberSwap has been hacked, according to Decrypt:

“At 3.24 pm GMT+7, we identified a suspicious element on our frontend,” Kyber Network tweeted. “Shutting down our frontend to conduct investigations, we identified a malicious code in our Google Tag Manager (GTM) and immediately disabled it.”

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.