KyberSwap, one of the decentralized exchange protocols for blockchain data, suffered an attack worth approximately 50 million dollars.
Funds received from cryptocurrency wallets linked to KyberSwap, into one wallet transferred.
Funds received include $20.7 million from Arbitrum, $15 million from Optimism, $7 million from Ethereum, $3 million from Polygon, and $2 million from Base.
The KyberSwap team made a statement on X and stated that there was a “security incident” in KyberSwap Elastic and advised users to withdraw their money he suggested.
The attacker sent a message on the blockchain, saying, “Dear KyberSwap developers, employees, DAO members and liquidity providers, negotiations will begin in a few hours, when I am well rested. Thanks.” said.
According to analysis by a DeFiLlama employee, the attack was not caused by a bug related to transaction confirmations in KyberSwap. Instead the attacker directly targets liquidity provider pools on Kyber is considered.
Kyber Network Crystal (KNC) lost nearly 5% of its value in a sudden decline, according to CoinGecko data.