The hack of the KyberSwap Elastic platform was reported on Nov. 23 – at which time the hacker was still exploiting a vulnerability in the protocol’s smart contracts. He managed to withdraw various assets worth $47 million, with the theft occurring on various blockchains including Arbitrum, Optimism and Polygon.
The development team is now hoping to recover most of the funds after negotiating with the hacker to keep their project alive. The hacker himself doesn’t seem to mind negotiating with the development team – he left a message on the blockchain about the possibility.
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“Dear KyberSwap developers, protocol workers, DAO participants and liquidity providers, negotiations will begin in a few hours once I am fully rested. Thank you,” the unidentified hacker wrote.
Recently, a major hack occurred on the HTX exchange and the HECO network – attackers managed to withdraw $110 million in assets.