In the aftermath of a recent $50 million hack, KyberSwap, a decentralized exchange, is taking an unusual step. The exchange is actively negotiating with the hacker, and the decentralized autonomous organization (DAO) in charge of KyberSwap is negotiating via the compromised wallet.
Surprisingly, they have acknowledged the hacker’s abilities while attempting to resolve the situation.
KyberSwap has taken an unusual step to encourage the return of stolen funds by offering a 10% bounty. The exchange recognizes the complexity of the hack and has set a November 25 deadline for the hacker to return 90% of the stolen funds. In an unusual twist, KyberSwap has provided an email address for the hacker to use to contact them privately.
Despite KyberSwap’s bounty offer, the hacker has been dormant since November 22. Doug Colkitt, the founder of Ambient Exchange, described the social media attack as highly sophisticated, involving an “infinite money glitch.”
The hack targeted KyberSwap’s liquidity pools, causing the exchange’s total value locked (TVL) to drop from $80 million to $7.78 million.
