Hacker’s On-Chain Messages Reveal Frustration
In an unexpected twist in the KyberSwap $50 million elastic pools exploit, the hacker responsible has expressed dissatisfaction with the KyberSwap team’s approach, adding a new layer to the ongoing drama.
KyberSwap Team’s Stance
The KyberSwap team had proposed a deal where the hacker would return 90% of the stolen funds in exchange for a 10% bounty. However, when the hacker did not comply promptly, the team escalated the situation by involving law enforcement and cybersecurity experts. They emphasized that the hacker’s digital footprints were traceable and urged acceptance of the deal to avoid legal consequences. KyberSwap also announced plans for a public bounty program to encourage information leading to the hacker’s capture and fund recovery.
Recovery of Stolen Funds
KyberSwap recently revealed that they had contacted the owners of front-run bots that siphoned approximately $5.7 million from KyberSwap pools on Polygon and Avalanche during the exploit. As a result, around $4.67 million worth of funds has been returned to the KyberSwap Deployer on Polygon.
Expert Analysis
Doug Colkitt, founder of Ambient Finance, analyzed the hack and highlighted its complexity and sophistication. He described it as one of the most intricate smart contract exploits in DeFi history, requiring an exact sequence of on-chain actions.
Looking Ahead
With the negotiation deadline approaching, the crypto community eagerly awaits the resolution of this high-stakes situation. The outcome of these negotiations will likely have significant implications for KyberSwap and the broader DeFi landscape.
Hot Take: The KyberSwap Hack Unfolds
The recent KyberSwap hack and its aftermath have captured the attention of the crypto community. From the hacker’s on-chain messages revealing frustration to the KyberSwap team’s stance and efforts to recover stolen funds, the situation continues to unfold. The complexity and sophistication of the exploit have garnered expert analysis, highlighting its significance in DeFi history. As we await the outcome of the negotiations, it is clear that this incident will shape the future of KyberSwap and leave a lasting impact on the broader DeFi landscape.
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