"KyberSwap Says Hackers Stole $55m in Crypto"

Decentralized exchange KyberSwap has recently become the latest crypto firm to lose millions to digital thieves.  The company revealed that a cyberattack took place on November 22, resulting in a loss of nearly $55m in users’ funds.  On November 22 at 10:54 PM UTC, attackers exploited KyberSwap Elastic smart contracts using a series of complex actions to conduct exploitative swaps, enabling the withdrawal of users’ funds into the attackers’ wallets.  Around $54.7m of users’ funds were exploited by the attackers.  The company noted that in response, they paused deposits, launched an investigation, contacted relevant parties & initiated negotiations with the attackers in an effort to help users recover as much as possible, including offering a 10% bounty as an incentive for returning the users’ exploited funds.  KyberSwap said it had contacted the owners of the bots that extracted about $5.7m worth of funds from KyberSwap pools on Polygon and Avalanche during the exploit.  It has negotiated to have 90% of those funds returned.  However, the fate of the remaining $50m is unclear.

Infosecurity reports: "KyberSwap Says Hackers Stole $55m in Crypto"