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KyberSwap was hacked on November 22, with the hacker offering a 10% reward after the attack, which caused $46 million in damage.
On November 23, KyberSwap warned its users that the liquidity solution KyberSwap Elastic had been compromised and recommended they withdraw their funds. The attacker seized approximately $20 million in Wrapped Ether (wETH), $7 million in Wrapped Lido-staked Ether (wstETH), and $4 million in Arbitrum (ARB) on November 22.
The hacker transferred the loot across various chains, including Arbitrum, Optimism, Ethereum, Polygon, and Base.
After concealing the stolen funds, the hacker wrote a message on-chain addressed to KbyerSwap developers, employees, DAO members, and LPs, stating, “Negotiations will begin once I have fully rested in a few hours.”
After both parties remained silent for a day, KyberSwap responded to the hacker by demanding the return of 90% of the stolen funds.
The team acknowledged what the hacker had done and stated, “On the table, there is a reward equivalent to 10% of the funds taken from the users by your hack, for the safe return of all users’ funds. But we both know how these things work, so let’s get to the point so you and these users can get on with your lives.”
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