KyberSwap offers a 10% bounty to hacker who stole $47M

1:46 pm
November 25, 2023

# KyberSwap Offers 10% Bounty to Hacker Who Stole $47M

KyberSwap, a decentralized exchange, fell victim to a major hack on November 22, resulting in the theft of $47 million. In a bold move to recover the funds, KyberSwap has offered a 10% bounty to the hacker responsible for the exploit. The security firm Beosin has identified the vulnerability that led to the attack, highlighting the risks within the decentralized finance (DeFi) space.

KyberSwap, a decentralized exchange protocol, is grappling with significant losses after a hacker stole $47 million on November 22. In an attempt to regain the stolen funds, the protocol has taken an unconventional route by offering a bounty to the hacker behind the exploit.

The hacker, who remains at large, has been sent a clear message by KyberSwap’s co-founder, Victor Tran, who presented a choice: return the funds or face the consequences. The bounty, equivalent to 10% of the stolen amount ($4.7 million), has been offered on the condition that the remaining 90% is returned to a specified address by November 25.

The security firm Beosin has revealed that the hack targeted KyberSwap’s Elastic pools, exploiting a vulnerability related to the tick interval boundaries on Kyber’s liquidity pools. The incident serves as a stark reminder of the persisting security risks in the decentralized finance (DeFi) sector.

## Incentive for the Hacker
In response to an on-chain message from the hacker, indicating readiness for negotiations, KyberSwap has extended the bounty offer as an incentive for the safe return of the stolen assets. The hacker has until November 25 to comply with the terms set by KyberSwap.

## The KyberSwap Attack
The attack exploited a vulnerability in KyberSwap’s liquidity pools, enabling the perpetrator to double the liquidity artificially. This led to the siphoning off of $47 million across various blockchains. The attack has drawn attention to the vulnerabilities prevalent within the DeFi space.

The situation is evolving as KyberSwap awaits the hacker’s response to their proposal following the cyberattack on November 22.

### FAQ

**Q: What is KyberSwap?**
A: KyberSwap is a decentralized exchange protocol that allows token swaps and conversions.

**Q: How much money was stolen in the KyberSwap hack?**
A: The hacker stole $47 million from KyberSwap in the cyberattack.

**Q: What vulnerability was exploited in the KyberSwap hack?**
A: The hacker exploited a vulnerability related to the tick interval boundaries on Kyber’s liquidity pools, as revealed by the security firm Beosin.

**Q: Has the hacker responded to KyberSwap’s bounty offer?**
A: As of now, the hacker has not responded to the bounty proposal following the attack on November 22.


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