Hacker Behind 2023 KyberSwap Attack Moves $2.5 Million From Arbitrum to Ethereum
Hacker In the again of 2023 KyberSwap Assault Strikes $2.5 Million From Arbitrum to Ethereum
The hacker accountable for the November 2023 KyberSwap assault used to be noticed on February 26 transferring virtually $2.5 million in cryptocurrency.
#PeckShieldAlert #KyberSwap Exploiter-labeled address bridged ~800 $ETH (price ~$2.5m) from #Arbitrum to #Ethereum pic.twitter.com/xTWO7lOLJY
— PeckShieldAlert (@PeckShieldAlert) February 26, 2024
Based entirely on an X post by blockchain analytics company PeckShield, the hacker moved 798.8 Ether, valued at roughly $2.49 million, from Arbitrum to the Ethereum blockchain.
The hacker also transferred $826,500 of the Dai stablecoin to one other pockets.
Working out the 2023 KyberSwap Assault
The KyberSwap assault, which came about on November 23, 2023, used to be one of basically the most distinguished DeFi hacks of the twelve months.
Quickly after the assault began, KyberSwap told its community of a “security incident,” urging users to withdraw their funds. It used to be within the foundation reported that roughly $46 million in digital sources had been taken, but subsequent investigations revealed a sum closer to $49 million.
The assault drew extra headlines when the unidentified hacker left an on-chain message for the KyberSwap crew, announcing that they’d be originate to negotiations once “fully rested.” In response, KyberSwap offered the hacker a $4.6 million bounty in trade for the recovery of 90% of the stolen funds.
Then again, the grunt fleet deteriorated when the hacker threatened to delay negotiations if the KyberSwap crew persevered with its upright threats and its reportedly “depraved” manner.
The hacker then altered their demands, announcing that they wanted complete adjust over KyberSwap and its sources. This integrated non eternal full authority and possession of KyberDAO, the governance mechanism for Kyber, along with all associated documents.
KyberSwap Is Calm Returning Funds
In response to these demands, the KyberSwap crew opted to originate treasury grants for the victims of the hack. On December 2, 2023, the DEX offered grants need to you suffered losses within the exploit and had no longer recovered funds.
Treasury Grant Program Registration is now originate for the following:
Form 1. Third Event Affected Customers of DappOS, Pendle, Magpie & Equilibria
Form 2. Affected Customers with Multisig/AA/Protected/Diversified Contract Affected Addresses
Form 3. Frequent conditions who disregarded the January 31 time restrict https://t.co/NcOXlwq6PT— Kyber Network (@KyberNetwork) February 19, 2024
The treasury grants are aloof being dispensed. The DEX offered final week that treasury grant program registration is now originate for users of DappOS, Pendle, Magpie, and Equilibria tormented by third-occasion events, users with addresses tormented by Multisig/AA/Protected/Diversified Contracts; and customary conditions, addressing these who disregarded the January 31 time restrict.
KyberSwap confronted colossal losses following the hack, with the firm compelled to carve again its personnel by 50% within a month of the incident.
Source : cryptonews.com
