Decentralized Exchange KyberSwap Hacked For $48 Million | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker

Decentralized exchange (DEX) KyberSwap has been attacked for nearly $50 million, and administrators are advising users to withdraw all funds as a precautionary measure as the exploiter says negotiations will soon commence.

On-chain data shows that the attacker is stealing funds mostly in Ether, wrapped ether (wETH) and USDC. The attacker has also hit multiple cross-chain deployments of KyberSwap, taking over $20 million on Arbitrum, $15 million from Optimism and $7 million from Ethereum.

On-chain sleuths have ruled out this being related to a bug in the DEX’s approval authorization code, and suggest that the theft is a directed attack against the liquidity provider pools themselves.

The attacker has teased that “negotiations will start in a few hours when I am fully rested.” The attacker also asked, “how is Ontario this time of year”.

The DEX currently has $22.23 million in total value locked (TVL) according to DeFiLlama, down from approximately $80 million before the attack.


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