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<ul class="news-points"> 
 <li><strong>KyberSwap suffered a $2.5 million breach on Feb 26, raising decentralized exchange security concerns.</strong></li> 
 <li><strong>A prior heist in Nov 2023 cost KyberSwap up to $49 million, prompting negotiations and a large bounty.</strong></li> 
 <li><strong>KyberSwap’s financial and reputational damage post-exploit led to layoffs to address challenges.</strong></li> 
</ul> 
<p>KyberSwap found itself at the center of a security breach when the individual behind the incident transferred considerable funds. On February 26, this activity caught the attention of observers as the culprit moved $2.5 million in digital assets from Arbitrum to Ethereum, according to blockchain analytics firm PeckShield. The transfer involved 798.8 Ether and an <a href="https://x.com/PeckShieldAlert/status/1761983831610175987?s=20" target="_blank" rel="nofollow">additional</a> $826,500 in Dai stablecoins, highlighting the breadth of the hacker’s loot.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/KyberSwap?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#KyberSwap</a> Exploiter-labeled address bridged ~800 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a> (worth ~$2.5m) from <a href="https://twitter.com/hashtag/Arbitrum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Arbitrum</a> to <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Ethereum</a> <a href="https://t.co/xTWO7lOLJY" target="_blank" rel="nofollow">pic.twitter.com/xTWO7lOLJY</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1761936020617236548?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">February 26, 2024</a>
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<p>The saga began on November 23, when KyberSwap was at the center of a cyberstorm. The decentralized exchange (DEX) alerted its community to a “security incident,” a euphemism for a heist that initially <a href="https://coinedition.com/kyberswap-dex-suffers-46-5m-exploit-users-asked-to-withdraw-funds/">appeared to pilfer</a> $4…</p>
<p>The post <a href="https://coinedition.com/kyberswaps-attacker-maneuvers-2-5-million-across-blockchains/">KyberSwap’s Attacker Maneuvers $2.5 Million Across Blockchains</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

KyberSwap’s Attacker Maneuvers $2.5 Million Across Blockchains

Coin Edition

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