Decentralized Exchange KyberSwap Negotiates 10% Bounty with Hacker in $50 Million Heist

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KyberSwap, a decentralized cryptocurrency exchange, has fallen victim to a sophisticated hacking attack resulting in the loss of $50 million. In an unprecedented move, the decentralized autonomous organization (DAO) overseeing KyberSwap has initiated negotiations with the hacker in an attempt to recover the stolen assets. They have offered a 10% bounty, amounting to $5 million, in exchange for the safe return of 90% of the funds to their rightful owners. The hacker, who executed a complex smart contract exploit, has yet to respond to the bounty offer and remains inactive since the attack. The KyberSwap team has set a deadline for the return of the funds and has provided an option for the hacker to contact them anonymously via email to settle the bounty bid privately. The hacking incident has gained attention for its complexity, with experts describing it as one of the most elaborate and well-engineered smart contract exploits in recent memory. The hacker exploited KyberSwap’s liquidity pools, causing a significant reduction in the platform’s total value locked. As of now, the hacker has remained silent, and the crypto community eagerly awaits their response to the bounty proposal in hopes of minimizing the impact on affected users and restoring confidence in the platform.

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