Decentralized finance (DeFi) platform KyberSwap has been hacked for tens of millions of dollars worth of virtual currency, causing its own assets to plummet.
Data from blockchain tracker Lookonchain reveals that $46.5 million in digital assets were stolen from KyberSwap, including $20.78 million in Wrapped Ethereum (wETH), $9.53 million in Lido-wrapped staked Ethereum (wstETH) and $4.1 million in Layer-2 scaling solution Arbitrum (ARB) .
According to Lookonchain, the exploiter said it was willing to negotiate, although no specific details were given.
“KyberSwap was operated on ~$46.5 million assets!
Includes: 10,049 wETH ($20.78 million) 4,017 wstETH ($9.53 million) 3.98 million ARB ($4.1 million).
This exploiter deposited USDC with Aave and provided liquidity on Uniswap. And willing to negotiate with the KyberSwap team.”
In a new thread on the social media platform X, the Decentralized Exchange Protocol (DEX). issues a warning to its users, stating that as a precaution they should withdraw their funds immediately.
“Dear KyberSwap Elastic users, We regret to inform you that KyberSwap Elastic has experienced a security incident.
As a precaution, we strongly advise all users to withdraw their funds immediately. Our team is closely investigating the situation and we aim to keep you informed regularly.
Thank you for your understanding and cooperation during this challenging time.”
Kyber Network Crystal (KNC) – KyberSwap’s original asset – is trading at $0.721 at the time of writing, down 2.75% over the past 24 hours.
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Featured image: Shutterstock/Yurchanka Siarhei/Sensvector