Arbitrum

Polygon

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 “On the table is a bounty equivalent to 10% of users’ funds taken from them by your hack,” said KyberSwap to its hacker in an on-chain message.
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 The decentralized exchange KyberSwap has <a rel="noopener noreferrer nofollow" title="offer" href="https://thebittimes.com/tag/offer.html">offer</a>ed a 10% <a rel="noopener noreferrer nofollow" title="bounty" href="https://thebittimes.com/tag/bounty.html">bounty</a> reward to the <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> who stole $46 million on Nov. 22 and left a note of negotiation. The exchange wants 90% of the loot <a rel="noopener noreferrer nofollow" title="return" href="https://thebittimes.com/tag/return.html">return</a>ed by 6 am UTC on Nov. 25.
 On Nov. 23, KyberSwap alerted users that its liquidity solution, KyberSwap Elastic, was compromised and advised them to withdraw funds. In the meantime, on Nov. 22, the hacker made away with roughly $20 million in Wrapped Ether (wETH), $7 million in wrapped Lido-staked Ether (wstETH) and $4 million in Arbitrum (ARB) tokens. The hacker then siphoned the loot across multiple chains, including Arbitrum, Optimism, Ethereum, Polygon and Base.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/24/d36eec2e5350756b1d63a9b1507366dc.webp">
 <figcaption style="text-align: center;">KyberSwap&nbsp;hacker shared his openness to negotiate a compromise. Source:&nbsp;etherscan.io
 </figcaption>
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 After hiding the stolen funds, the <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> wrote an on-chain message directed to KyberSwap developers, employees, decentralized autonomous organization members and liquidity providers, stating, “Negotiations will start in a few hours when I am fully rested.”
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/24/e887655053a79a4bbf6f261a1e245b97.webp">
 <figcaption style="text-align: center;">KyberSwap team responded to the hacker and offered a 10% bounty. Source:&nbsp;etherscan.io
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 Following a day’s silence from both ends, KyberSwap responded to the <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> requesting the <a rel="noopener noreferrer nofollow" title="return" href="https://thebittimes.com/tag/return.html">return</a> of 90% of the stolen funds. The team acknowledged the skills of the <a rel="noopener noreferrer nofollow" title="hacker" href="https://thebittimes.com/tag/hacker.html">hacker</a> and laid down an <a rel="noopener noreferrer nofollow" title="offer" href="https://thebittimes.com/tag/offer.html">offer</a>:
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 “On the table is a bounty equivalent to 10% of users’ funds taken from them by your hack, for the safe return of all of the users’ funds. But we both know how this works, so lets cut to the chase so you and these users can all get on with life.”
 </blockquote>
 If the hacker fails to pay back or respond to KyberSwap by 6 am UTC, Nov. 25, “you stay on the run,” said KyberSwap. The team is open to further discussion with the hacker via email.
 Related: KyberSwap announces potential vulnerability, tells LPs to withdraw ASAP
 A dissection of the recent KyberSwap hack by a decentralized finance (DeFi) expert suggests that the attacker used an “infinite money glitch” to drain funds.
 Ambient exchange founder Doug Colkitt explained the KyberSwap attacker relied on a “complex and carefully engineered smart contract exploit” to carry out the attack.
 <blockquote class="twitter-tweet">
 1/ Finished a preliminary deep dive into the Kyber exploit, and think I now have a pretty good understanding of what happened. This is easily the most complex and carefully engineered smart contract exploit I've ever seen...— Doug Colkitt (@0xdoug) November 23, 2023
 </blockquote>
 The attacker then repeated this exploit against other Kyberswap pools on multiple networks, eventually getting away with $46 million in crypto loot.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/kyberswap-hacker-offers-4-6m-bounty-for-return-of-46m-loot-tbt71508.html">https://thebittimes.com/kyberswap-hacker-offers-4-6m-bounty-for-return-of-46m-loot-tbt71508.html</a>

KyberSwap hacker offers $4.6M bounty for return of $46M loot

TheBitTimes

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