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- 1 I received threats, deadlines, and general unfriendliness from the officials of KyberSwap: Hackers.
- 2 Following the exploit, the exchange proposed a bounty deal, proposing a return of 90% of the cash in exchange for the hacker keeping 10%.
- 3 Hackers used a series of tough activities to perform exploitative swaps, allowing users’ cash to be withdrawn in their wallets.
The bad actors behind the recent attack on KyberSwap demanded the firm’s executives to ease the hostilities, threatening to push out negotiations until everyone is ‘more civil’.
The on-chain message addressing KyberSwap executives states that the hackers plan to release a statement around a potential treaty on November 30, but if the hostility continues, they will drop the negotiation.
The hacker said in his message that he was willing to negotiate, but had received dozens of threats, deadlines, and general unfriendliness from the officials of the troubled firm.
They wrote that under the assumption that they might further the hostility, we can schedule for forthcoming dates when they all will feel more civil.
Source: Etherscan (Message of KyberSwap hackers for the firm)
Negotiation Deal of KyberSwap for Hackers
KyberSwap initially offered a bounty deal, proposing a return of 90% of the cash in exchange for the hacker keeping 10%; nevertheless, the situation worsened when the hacker did not cooperate swiftly.
The troubled exchange gave the hacker until November 25 to restore the cash and further exacerbated the situation by contacting law enforcement and cybersecurity specialists, pledging to find them.
The decentralized autonomous organization that runs the KyberSwap decentralized exchange also cautioned that the team has the attacker’s footprints.
KyberSwap has yet to answer to the hacker’s request for civility, but the threat of legal action, as well as the launch of a public bounty program to acquire information for law enforcement, complicate the issue.
How Hackers Wiped Out Million From KyberSwap?
According to the information accessible on November 22, attackers used a series of complicated activities to perform exploitative swaps, allowing users’ cash to be withdrawn into their wallets.
The reported amount missing from the accounts of holders and ecosystems totals $54.7 million.
The anonymous hackers completed a specific sequence of on-chain operations to attack an exchange vulnerability. The exchange stated that it had contacted the owners of the frontrun bots that stole around $5.7 million from KyberSwap pools on Polygon and Avalanche during the hack.
The cryptocurrency exchange HTX and blockchain technology Heco Chain were hacked on November 22 for $97 million in digital tokens. Kronos Research was also compromised earlier in November, with $26 million taken.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
