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Home»ADOPTION NEWS»KyberSwap hackers promise to outline a potential treaty in the coming days.
ADOPTION NEWS

KyberSwap hackers promise to outline a potential treaty in the coming days.

By Crypto FlexsNovember 29, 20232 Mins Read
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KyberSwap hackers promise to outline a potential treaty in the coming days.
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Posted 1 minute ago In ~

The hacker who stole $47 million from decentralized exchange protocol KyberSwap last week has promised to release a statement about potential transactions with victims later this week.

The attacker, whose identity is still unknown, encrypted a message into an Ethereum transaction late on November 28, promising to issue a statement about the “treaty” on November 30.

“I said I was willing to negotiate. In return, I received (mostly) threats, deadlines, and general unfriendliness from management. “It’s okay, I don’t care,” they said.

“We can reschedule for a later date when we will both feel more civil, assuming I will be treated more hostilely. “All you have to do is say the word,” they continued. “Otherwise, we will proceed as scheduled on November 30.”

$47 million exploit

The ominous message comes roughly a week after $47 million was suspiciously withdrawn from KyberSwap’s Elastic Pools liquidity solution. KyberSwap advised all users to withdraw their funds immediately after the incident. A 10% bounty was later offered to whoever was responsible for the exploit, with a message encoded in blockchain data stating that negotiations would begin after they had already taken a “complete break.”

Yesterday, the team said in a statement that it had recovered $4.7 million.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Ryan Weeks is The Block’s trading editor, focusing, among other things, on fundraising, M&A, and institutional trends in the cryptocurrency space. He’s particularly interested in investigative work, so please send him tips! Ryan previously worked as London fintech correspondent for Financial News and Dow Jones. Prior to that, he wrote for several publications, including Sifted, AltFi, and Wired. In addition to journalism, Ryan is a keen reader and writer. He enjoys anything active. He especially enjoys running, rugby, hiking and tennis.

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