Kyberswap hacker who broke into Kyberswap demanded full control of the service

Kyberswap hacker who broke into Kyberswap demanded full control of the service

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Author: Liam Miller
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Kyberswap hacker who broke into Kyberswap demanded full control of the service

The hacker of the cryptocurrency exchange Kyberswap demanded full control over the company



The hacker offered liquidity providers 50% compensation for lost funds, while token holders and investors were told their assets were "no longer worth anything"

The hacker who broke into the decentralized cryptocurrency exchange Kyberswap last week and stole nearly $50 million has reached out to the project and demanded the transfer of full control over it.

According to the report, the hacker demanded the transfer of full control over the company Kyber, which owns the service, as well as all remaining assets and internal documentation with the assignment of intellectual property rights.

In addition, he offered the current executives to leave the company and promised all employees a double salary increase. To liquidity providers, the hacker offered 50% compensation for lost funds, while token holders and investors were told that their assets were "no longer worth anything." According to the hacker, the offer is valid until December 10.


Decentralized exchange Kyberswap suffered a hacker attack on November 23, in which $47 million was stolen. Immediately after the hack, the hacker contacted the project team through the Ethereum Blockchain Explorer, a site where you can view details of transactions on the blockchain. He sent a minimal amount of money to the public address of the developers' wallet and accompanied the transaction with a text message. In his address, the hacker reported that he was ready to start negotiations. Representatives of the exchange offered the hacker to return 90% of the stolen funds by November 25.

According to an independent analyst under the pseudonym Spreek, who first drew attention to suspicious outflows of funds from the platform, Kyberswap's total losses amounted to $47.23 million, of which $7.5 million was withdrawn from the Ethereum network, $15 million - from Optimism, $2 million - from Polygon, $20.7 million - from Arbitrum and $2 million - from Base.

Earlier, PeckShield estimated the value of cryptocurrencies stolen by hackers since the beginning of 2023 at more than $1.15 billion, with nearly a third of those losses occurring in September - more than $355 million.

  

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