Kyber Director Seeks Broad Authority Over KyberSwap Governance and Assets
The attacker behind the recent $47 million exploit of KyberSwap, a decentralized crypto exchange, has made bold demands in proposed negotiation terms. The self-proclaimed “Kyber Director” is demanding complete control over KyberSwap’s operations and assets to address the losses from the breach. This includes temporary ownership of the governance mechanism and access to all documents and data related to KyberSwap’s structure and finances.
Employee Benefits and Token Holder Rebates Offered in Return
In exchange for meeting these demands, Kyber Director has promised certain concessions to employees, investors, and liquidity providers. Executives would receive a fair buyout, while other employees could expect higher salaries under new leadership. Token holders would benefit from a protocol overhaul and a 50% rebate on recent losses to liquidity providers. However, the deal is contingent on law enforcement not intervening.
Hot Take: KyberSwap Faces a Complex Decision
The anonymous attacker’s proposal presents a difficult decision for KyberSwap. While it could help mitigate the effects of the exploit, handing over control to the attacker raises governance concerns for a prominent DeFi protocol. With the December 10 deadline approaching, the community is eagerly awaiting KyberSwap’s official response to this audacious negotiation attempt.
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