KyberSwap Offers 10% Bounty To Hacker on $47 Million Exploit

The KyberSwap team has given a deadline of 6AM UTC, November 25 to return 90% funds to avoid legal action.

The recently exploited DeFi protocol, KyberSwap has offered a 10% bounty to the hacker who stole $47 million on November 22.

The decentralized exchange (DEX) aggregator KyberSwap was exploited on its auto yield-compounding liquidity markets.

While the hacker considered negotiations by leaving an on-chain message after the exploit, the KyberSwap team responded by offering a 10% bounty and asking to return 90% of the funds.

*Chat between KyberSwap team and exploiter – Etherscan.io*

The KyberSwap team has given a deadline of 6 AM UTC, November 25 while also citing an email for a private discussion. The team has said to take legal action against the exploit after the deadline has passed.

KyberSwap has seen a major decrease of over 90% in its TVL which is now roughly $7.6 million from its peak of $87 million pre-hack, according to DeFiLlama data.

Also Read: Elon Musk Deepfake on YouTube Scam Nets $165K in Crypto

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

Follow The Crypto Times on Google News to Stay Updated!