The KyberSwap Hacker Plans to Propose a Deal
The hacker behind the $47 million exploit of KyberSwap has expressed their intention to negotiate and is expected to release a detailed statement regarding a potential agreement on November 30. In an Ethereum transaction, the hacker mentioned that despite receiving threats and unfriendliness from the executive team, they are prepared to propose a treaty. The hacker had previously left an on-chain message stating that negotiations would commence after they had rested.
KyberSwap Recovers $4.67 Million
Following discussions with the operators of frontrunning bots who withdrew around $5.7 million from KyberSwap’s pools on Polygon and Avalanche during the security breach, KyberSwap managed to recover $4.67 million. The operators agreed to return 90% of the extracted user funds after engaging with the company. KyberSwap stated that they will continue to assist law enforcement and cybersecurity in tracking down and recovering funds from the hacker responsible for the exploit attack.
Exploit Targeted Concentrated Liquidity Feature
Ambient Exchange founder Doug Colkitt revealed that the hacker exploited a specific aspect of KyberSwap’s concentrated liquidity feature, tricking the contract into recognizing more liquidity than was actually available. This exploit created what can be described as an “infinite money glitch.” Despite the hack, KyberSwap assured users that its aggregator was unaffected and operating normally.
Hot Take: The Hacker’s Proposal
The upcoming statement from the KyberSwap hacker regarding a potential deal raises questions about their motives and demands. It remains uncertain what terms will be proposed and how it may impact both KyberSwap and its users. The recovery of $4.67 million through negotiations with frontrunning bot operators demonstrates KyberSwap’s commitment to recovering user funds. As the crypto community awaits the hacker’s statement, it is crucial to monitor the developments and assess the potential implications for the affected parties.
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