Bounty

In the aftermath of a recent $50 million hack, KyberSwap, a decentralized exchange, is taking an unusual step. The exchange is actively negotiating with the hacker, and the decentralized autonomous organization (DAO) in charge of KyberSwap is negotiating via the compromised wallet.Surprisingly, they have acknowledged the hacker's abilities while attempting to resolve the situation.KyberSwap has taken an unusual step to encourage the return of stolen funds by offering a 10% bounty. The exchange recognizes the complexity of the hack and has set a November 25 deadline for the hacker to return 90% of the stolen funds. In an unusual twist, KyberSwap has provided an email address for the hacker to use to contact them privately.Despite KyberSwap's bounty offer, the hacker has been dormant since November 22. Doug Colkitt, the founder of Ambient Exchange, described the social media attack as highly sophisticated, involving an "infinite money glitch."The hack targeted KyberSwap's liquidity pools, causing the exchange's total value locked (TVL) to drop from $80 million to $7.78 million.The post <a href="https://optimisus.com/news/crypto-news/crypto-exchange-kyberswap-puts-10-bounty-on-table-to-recover-hacked-funds/" rel="noopener noreferrer nofollow">Crypto Exchange KyberSwap Puts 10% Bounty on Table to Recover Hacked Funds</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Crypto Exchange KyberSwap Puts 10% Bounty on Table to Recover Hacked Funds

Optimisus

Other articles published on Nov 25, 2023

Blur Token (BLUR) surges by over 30% following Binance listing

What is Power Ledger Coin?

Binance’s New CEO Teng Faces Uphill Struggle in Post-Zhao Era

Newly Launched Solana-Based Altcoin Could Explode by More Than 880% in 24 Months, According to In...

Justin Sun announces airdrop after HTX, Poloniex hacks

Web 3 & AI Professionals Choose Dubai as New Home, But Why?

Join our free newsletter for daily crypto updates!