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Blockchain security firm Peckshield revealed on Feb. 26 that an exploiter labeled address associated with the Kyberswap hack had bridged approximately 800 ether tokens from Arbitrum to the Ethereum blockchain. On the same day, the Kyberswap team unveiled revised dates for reimbursing users impacted by the hacking.
A decentralized exchange (DEX), KyberSwap, recently suffered a considerable security breach that resulted in substantial financial losses. In a new twist, the hacker behind the breach transferred much of the stolen money, almost $2.5 million in Ether, from Arbitrum to the Ethereum network.
KyberSwap hacker shifts $2.5 million in stolen funds from Arbitrum to Ethereum, highlighting ongoing security challenges in the decentralized exchange space. KyberSwap's response includes offering grants to hack victims.
A wallet address linked to the KyberSwap exploiter was seen transferring $2.5 million from Arbitrum to Ethereum.
Web3 hacks and scams cost the ecosystem $1.83 billion in 2023 despite the amount of funds lost to exploits dropping by half compared with 2022.
The CEO of Kyberswap, the decentralized finance aggregator, revealed on Christmas Day that the platform recently laid off 50% of its workforce. The CEO added his organization is in the process of creating a voluntary database that is expected to help these workers secure new jobs in the Web3 space.
The platform, which was hacked in November, had to let staff go in order to free up funds to reimburse users.
KyberSwap, after a $48.8M hack, has halved its workforce and launched a reimbursement plan for affected users, showcasing the resilience of DeFi.
Decentralized finance (DeFi) platform Kyber Network has taken significant steps to address the aftermath of a massive security breach in November, with CEO and co-founder Victor Tran at the helm. Despite the challenges posed by the “Elastic exploit”, KyberSwap's core business, including the aggregator and limit order functions, remains fully functional, according to the latest statement.
The firm said it's priorities now are to keep KyberSwap's Aggregator and Limit Order functions up and running and to reimburse impacted customers.
Decentralized finance (DeFi) platform Kyber Network is cutting its staff in half following a large exploit earlier this year, according to its CEO and founder. In November, KyberSwap was exploited for $46.5 million worth of digital assets, including $20.78 million worth of Wrapped Ethereum (wETH), $9.53 million worth of Lido-wrapped staked Ethereum (wstETH), and $4.
Decentralized Finance (DeFi) firm Kyber Network is determined to bounce back after a recent security breach, pledging to reimburse affected users while rejecting the hacker's audacious demands to take control of the company.
KyberSwap, a leading decentralized exchange (DEX) aggregator, announced a 50% reduction in its workforce following a $54 million exploit earlier this month. CEO and co-founder Victor Tran announced the decision on social media on Dec. 25.
Kyber Network rebuilds after hacker exploit and theft; plans to boost sustainability and support affected users.
KyberSwap recently made sweeping changes in response to a significant setback caused by the Elastic exploit.
KyberSwap has reduced its workforce by 50% in response to challenges triggered by the Elastic exploit. In an X post on Dec.
In a recent post, Victor Tran, CEO and Co-founder of KyberNetwork, has unveiled a regret message of reducing the company's total workforce on the X platform. However, Tran added that despite KyberSwap facing unprecedented challenges following a security exploit, the platform shows resilience.
Following the Nov. 22 exploit, KyberSwap has announced a treasury grant program for affected users, according to a Dec. 20 release on their blog.
KyberSwap victims get paid based on selected options. Assets in five categories were impacted, with some partially recovered.
Kyber Network commits to providing financial compensation for users affected by the KyberSwap Elastic exploit.
Blockchain security firm Cyvers said the KyberSwap exploiter's acquired funds were spread across various externally owned accounts (EOAs), now recognized as the top HXA token holders.
The blockchain security firm Cyvers has recently identified a significant security breach involving the Kyber Network, a prominent platform in the cryptocurrency exchange sector. This discovery comes after a series of high-profile security incidents that impacted various crypto platforms, including KyberSwap, during November.
In a significant development in the world of cryptocurrency security, Cyvers, a blockchain security company, has reported a suspicious transaction involving the KyberSwap exploiter. This transaction, identified as “abnormal” by Cyvers, involves the transfer of $50 million worth of HXA tokens, the native utility token of the Herencia Artifex NFT project.
The Platypus hacker managed to walk free from a court after claiming to be an ethical hacker despite stealing $8.5 million from the protocol.
