KyberSwap Hacked for $48 Million, Hackers Suggest Negotiations

cryptonews.com:

KyberSwap, a decentralized exchange, has been compromised in a hack resulting in the theft of $48 million, prompting the platform to advise users to withdraw their funds while the attackers hint at entering negotiations.

On-chain data indicates that the hack on KyberSwap resulted in significant losses of $48 million across several blockchain networks, including 20 million from Arbitrum, $15 million from Optimism and $7 million from Ethereum.

The stolen funds were primarily deposited in Ethereum (ETH), Wrapped Ethereum (wETH), and USD Coin (USDC). The analysis of the incident indicates a direct attack on the exchange’s liquidity pools instead of a vulnerability in the platform’s code.

Kyber Network has sent out notifications to advise users to withdraw their funds. “We regret to inform you that KyberSwap Elastic has experienced a security incident,” said Kyber Network. “As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investigating the situation, and we commit to keeping you informed with regular updates.”