After being hacked with assets amounting to $49 million, KyberSwap has once again come under attack on February 26, with a total loss of over $2.5 million.
Recently, KyberSwap spoke out about being a victim of a cyber security breach, having substantial amounts of money transferred by the attacker.
According to blockchain analysis firm PeckShield, on February 26, the exchange recorded a suspicious transaction, the perpetrator had transferred $2.5 million from Arbitrum to Ethereum.
The money transfer included 798.8 Ether and an additional $826,500 in Dai, this is considered the loot of the hackers.
The story began on November 23, when KyberSwap was the epicenter of a cyberstorm. The decentralized exchange had warned its community about a “security incident,” that they had apparently been robbed of $46.5 million.
However, after further investigation, the estimated figure rose to nearly $49 million, marking it as one of the most serious cyber security breaches of the year.
Furthermore, the attackers left a message for KyberSwap, implying a ransom demand to cease their operations completely. To salvage the situation, KyberSwap proposed to give them a sum of $4.6 million in order to retrieve 90% of the stolen digital assets.
However, the situation worsened when the hackers expressed dissatisfaction with KyberSwap’s resolution, threatening to continue harassing while they have full control over KyberSwap and their assets, including KyberDAO, an autonomous organization of Kyber.
After these events, KyberSwap took steps to minimize the damage to its community. On December 2, 2023, they announced a compensation fund to reimburse the victims of the hack, a necessary move to restore their reputation.
