Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»KyberSwap Hackers Demand Full Control of DEX in ‘Fair Assessment’
ETHEREUM NEWS

KyberSwap Hackers Demand Full Control of DEX in ‘Fair Assessment’

By Crypto FlexsNovember 30, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
KyberSwap Hackers Demand Full Control of DEX in ‘Fair Assessment’
Share
Facebook Twitter LinkedIn Pinterest Email

The hackers responsible for the $48 million KyberSwap heist have now expanded their demands, demanding complete executive control over the decentralized exchange (DEX).

Hackers released updated requirements. On-chain message Sent on November 30th.

They had previously expressed a willingness to negotiate a bounty, but on November 28 they complained that they had received threats from KyberSwap management and were generally unfriendly.

complete acquisition

The hackers’ latest demands include full control of KyberSwap and temporary and full ownership of the platform’s governance mechanism, KyberDAO. It also asks for all documents related to the company’s structure, profits, revenue, assets, liabilities and employee salaries. The attacker also claims to receive all KyberSwap assets, including both on-chain and off-chain holdings.

In return, the hackers promise to buy out the company’s management at “fair value” and promise to double the salaries of any employees who choose to remain after the acquisition. Those who decide to leave will be offered a 12-month severance package.

The message also outlines plans for a “complete revamp” of the Kyber project, with the goal of increasing the value of tokens that the hackers currently deem “worthless.” Liquidity providers (LPs) affected by the attack are promised a rebate equal to 50% of their most recent market-making losses.

The hackers set a deadline for the KyberSwap team to meet these demands by December 10th or the offer would be invalidated. Additionally, contacting an agent regarding a hacker’s transactions on KyberSwap will invalidate the proposed “treaty”.

The hacker’s unprecedented move has sparked a mix of alarm and skepticism in the cryptocurrency community. It has also reopened the debate about the security of decentralized protocols and how to improve them.

KyberSwap has not responded yet

DEX’s leadership team has yet to publicly respond to the hacker’s latest message.

KyberSwap initially offered a bounty deal, offering to return 90% of the funds stolen by the hackers and keep the remaining 10%. But when the hackers failed to immediately comply, KyberSwap threatened legal action and claimed it had the exploiters’ digital footprints to track.

DEX also announced plans for a public bounty program to encourage information leading to the arrest of hackers and recovery of user funds.

KyberSwap succeeded in recovering $4.67 million of the $46 million stolen. This is due to the actions of leading bot operators on the Polygon and Avalanche networks.

Described by decentralized finance expert Doug Colkitt as an “infinite funds glitch,” the exploit was a complex smart contract exploit that spanned multiple networks, including Avalanche, Polygon, Ethereum, Arbitrum, Optimism, and Base.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Next chapter of ecosystem support program

August 31, 2025

Kindly, MD’s $ 5B Bitcoin Play comes as DATS raises fear of wider Altcoin fluidity.

August 27, 2025

Bitcoin News Today: Ether (ETH) is 5K $ 5K and BTC Eyes is recorded as Powell Sparks Rally. DAT transaction risk: Be careful with asset managers

August 23, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

Meta Bus Status -Are Mana, Sand and Ax Prepared for Revival?

March 15, 2025

Improving Podcast Quality: Effective Audio Cleaning Techniques

September 28, 2024

Blockchain and Transparency in Online Casinos Australian Real Money

February 21, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.