The Hacker’s Demands
A hacker who recently drained $47 million from decentralized exchange protocol KyberSwap has outlined their demands in a message on the blockchain. The attacker is demanding complete control over the company behind Kyber, temporary control over the project’s governance mechanism (KyberDAO) to make legislative changes, and access to all documents and information related to the company’s operations. They also want all company assets, including shares, tokens, websites, servers, passwords, code, and intellectual property. If their demands are met, the hacker promises to buy out company executives at a fair valuation and double the salaries of remaining employees.
The Attacker’s Plans
If their demands are met, the hacker plans to give Kyber a complete makeover and turn it into an entirely new cryptographic project. They claim that under their management, token holders and investors will no longer have worthless tokens. Additionally, liquidity providers who deposited assets into KyberSwap’s liquidity pools will receive a 50% rebate on losses from recent market-making activity.
Final Offer
The attacker states that this is their best and only offer. If the demands are not met by December 10th, their “treaty” deal will be void. They also warn that if contacted by any authorities regarding their activities, the deal will be canceled. The hacker emphasizes that they do not want to see Kyber go under as it is one of the original and longest-running DeFi protocols.
Response from KyberSwap
Following the attacker’s message, Victor Tran, co-founder of KyberSwap, expressed his concern for Kyber users and promised a message addressing the situation soon.
The Exploit and Recovery
About a week before the on-chain message, $47 million was suspiciously drained from KyberSwap’s Elastic Pools liquidity solution. KyberSwap advised users to withdraw their funds and offered a 10% bounty for information on the exploit. The team managed to recover $4.7 million of the drained funds separately. The hacker has also been linked to an attack on Indexed Finance, where $16 million was stolen earlier this year.
Hot Take: Hacker Demands Control of KyberSwap in Exchange for Stolen Funds
The hacker responsible for the $47 million theft from KyberSwap has made audacious demands in exchange for returning the stolen funds. They seek complete control over the company, governance mechanism, and access to all related information. The hacker plans to transform Kyber into a new cryptographic project and promises token holders and investors that their tokens will no longer be worthless. While KyberSwap works to recover the stolen funds and address the situation, the attacker’s demands hang in the balance. If not met by December 10th, the deal will fall through, leaving many questions unanswered about the future of Kyber.
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