Kyberswap Offers a 10% Bounty For Return of Stolen Funds
KyberSwap offers a 10% bounty to hacker after a $50M hack; DAO negotiates return of funds, underlining security challenges in decentralized exchanges.
KyberSwap, an exchange that got hacked recently is negotiating a bounty with the hacker. The DAO in charge of KyberSwap is in talks with the attacker through the compromised wallet, they applauded the hacker's sophistication and skills while trying to find a resolution.
KyberSwap has offered a 10% bounty for the return of stolen funds. They recognize the hack's complexity and have given the attacker a deadline to return 90% of the stolen funds by November 25 or stay on the run. They also offered to communicate with the hacker in private by providing an email for him to reach them with.
The hacker has been inactive since November 22, despite the DAO’s bounty proposal. Doug Colkitt, founder of Ambient Exchange, described the attack on social media as highly complex, involving an "infinite money glitch."
KyberSwap’s liquidity pools were targeted in the hack, causing the exchange’s total value locked (TVL) to reduce from $80 million to just $7.78 million. The incident highlights the challenges decentralized exchanges face in securing users' funds.
