On November 28, the person responsible for the $46 million breach at KyberSwap contacted platform executives and cryptocurrency holders, announcing his intention to outline an agreement to return the funds on November 30.
Following the attack, the platform confronted the hacker and announced the launch of a reward program for those providing information leading to the arrest of the perpetrator and the recovery of users' funds. So far, $4.67 million has been recovered from the attack.
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The team behind KyberSwap managed to recover some of the funds stolen due to the exploit, thanks to the use of advanced bots on the Polygon and Avalanche networks. At the same time, although it has not yet responded to the hacker's latest message, it seems to be waiting for the settlement proposal that may be presented.
On November 22, decentralized finance expert Doug Colkitt explained that the hacker used the “infinite money glitch” to exploit the complexity of smart contracts on various networks, managing to extract approximately $5.7 million in cryptocurrencies. The funds were exploited on networks including Avalanche, Polygon, Ethereum, Arbitrum, Optimism, and Base.
KyberSwap, which operates on the Kyber Network, allows for the easy and fast exchange of digital coins without intermediaries. This provides liquidity across blockchains and facilitates transactions between them.
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Source: cointelegraph.com
