KyberSwap Saga Continues: Hacker Responds to Exchange Proposal

KyberSwap Saga Continues: Hacker Responds to Exchange Proposal
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The individual who orchestrated the theft of $47 million from the decentralized exchange protocol, KyberSwap, last week, has committed to issuing a statement regarding a potential agreement with the affected parties in the coming days. The perpetrator, who remains unidentified, embedded a message in an Ethereum transaction on November 28, indicating an intention to publicize details of a proposed “treaty” on November 30.

“I said I was willing to negotiate. In return, I have received (mostly) threats, deadlines, and general unfriendliness from the executive team. That’s ok, I don’t mind,” they said.“Under the assumption that I am treated with further hostility, we can reschedule for a later date, when we all feel more civil. You need only say the word, if not, we proceed as planned on Nov. 30.”

This threatening message arrived approximately one week after KyberSwap’s Elastic Pools liquidity solution was mysteriously depleted of $47 million. In response to the incident, KyberSwap urged all users to promptly withdraw their funds.

KyberSwap Has Not Responded to the Hacker

KyberSwap Saga Continues: Hacker Responds to Exchange Proposal

The KyberSwap team, which operates a cross-chain decentralized exchange, initially proposed a bounty agreement in which the hacker would return 90% of the stolen funds from all exploits, allowing the hacker to retain the remaining 10%. However, when the hacker did not immediately comply, the team escalated the situation by threatening legal action.

In a message on the blockchain dated Nov. 25, the KyberSwap team stated that they had contacted law enforcement and cybersecurity experts regarding the case. They warned the hacker, “We have your footprints to track you,” and suggested that it would be in the hacker’s best interest to accept the initial offer before law enforcement and cybersecurity could locate them.

KyberSwap has yet to respond to the hacker’s most recent communication, as they await a fresh proposal from the hacker. The hack, which transpired on November 22, was a sophisticated exploit spanning multiple networks, including Avalanche, Polygon, Ethereum, Arbitrum, Optimism, and Base.


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