Another DeFi Platform Hacked, Developers Promise Hacker Reward!

A multi-chain decentralized finance (DeFi) platform, KyberSwap, announced that a frontend vulnerability resulted in the theft of $265,000 from user funds.

KyberSwap told hack victims that it will compensate all lost funds and is offering a 15% reward for the hacker if all funds are returned.

KyberSwap’s blockchain contracts were not affected by the attack.

DeFi Platform Announces Details About Hacker Attack

KyberSwap provided detailed information about the attack in its official statement:

“We’ve detected malicious code in our Google Tag Manager (GTM) that inserts a false confirmation and allows a hacker to transfer a user’s funds to their own address.”

The article also states, “The script was secretly injected and specifically targeted whale wallets with large amounts.” it was said.

The attack was neutralized two hours after the team began investigating, and the team urged users to continue using their platform with caution.

The 15 percent bug bounty is dependent on all funds being returned and the hacker speaking directly to the KyberSwap team.

Cryptocurrency The developers also sent a message to the hacker that he should return the stolen funds:

“Message to attacker: We know your addresses and interactions. Central exchanges were also informed. You will not be able to withdraw money without revealing yourself. As a bug bounty, we offer you 15% of the funds if you return it.”

However, the hacked platform also called on other DeFi apps:

“As the attacker may have targeted multiple sites, we urge all DeFi projects to thoroughly check your frontend code and associated Google Tag Manager (GTM) scripts. Let’s work together as one DeFi community to defend against these malicious attacks.”

*Not investment advice.

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