Kyber Network Confirms Security Incident in Which $47 Million Was Stolen

Kyber Network stated on Nov. 22 that Kyberswap Elastic “experienced a security incident” through which crypto property value greater than $45 million have been stolen. Kyber Network stated it was investigating the incident and urged all “users to promptly withdraw their funds.”

Kyber Forks Affected by the Incident

Kyber Network, the decentralized trade (DEX) aggregator, confirmed on Nov. 22 that its market maker often known as Kyberswap Elastic had “experienced a security incident.” In a publish on X (previously Twitter), the DEX aggregator stated it “strongly advise[d] all users to promptly withdraw their funds” whereas it investigates the incident.

suggest additionally withdrawing from kyber forks equivalent to Horizondex on Linea till there may be extra data

— Spreek (@spreekaway) November 22, 2023

While Kyber Network has not shared particulars referring to funds misplaced, a social media consumer Spreek stated property value greater than $20 million have been stolen when Kyberswap Elastic was initially attacked. However, in later posts, the consumer advised that the losses have been double the preliminary estimates.

“Current whole is $47m. Possibly extra chains nonetheless to observe idk [I don’t know]. For these asking I’m pretty positive that is NOT an approval-related challenge and is just associated to the TVL [total value locked] held within the Kyber swimming pools themselves,” the DEX aggregator stated.

The X consumer stated within the absence of latest data, he would additionally suggest withdrawing from sure Kyber forks equivalent to Horizondex on Linea “until there is more info.”

Meanwhile, in a later replace shared by way of X, the DEX aggregator claimed that Kyberswap’s aggregator had not been impacted and was “operating fully as normal.” In one other replace, Kyber Network warned in opposition to clicking phishing hyperlinks or responding to direct messages.

However, one social media consumer advised the warning got here late and scammers have been already taking benefit. This declare is seemingly corroborated by a parody account that requested Kyber Network to test in the event that they have been eligible to obtain refunds.

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