KyberSwap Hit by Massive Heist, nearly $54.7M Vanished

KyberSwap Falls Victim to a Huge Cyberattack, $54.7 Million Disappears

According to The Record, a news blog run by cybersecurity firm Recorded Future, decentralised exchange protocol KyberSwap has revealed losing roughly $54.7 million in bitcoin during a hack on Nov. 22 that featured a complicated exploitative swap attack chain targeting users' cash.

The investigation into the hack, which KyberSwap described as "one of the most sophisticated" operations in the history of decentralised banking, has begun, with the company temporarily suspending deposits and talking with the perpetrators in an attempt to retrieve the stolen cash.

"A bounty of 10% of the users' funds taken by your hack is on the table in exchange for the safe return of all of the users' funds." But we both know how this works, so let's get to the point so you and these people can go on with your lives," stated KyberSwap in response to the attacker's message about negotiating for the stolen data.