KyberSwap DEX Suffers Multi-Chain Exploit Resulting In $50 Million Loss
Summary
Decentralized exchange KyberSwap became the latest victim of a hacking exploit, losing around $50 million across multiple chains such as Base, Polygon, and Arbitrum. The cryptocurrency community first reported the hack, which had already cost over $48 million by the time the initial posts hit social media. The Kyber Network team confirmed the security breach and advised users to withdraw their funds from the protocol to prevent further losses. The total value locked in the protocol fell from $78 million to $56 million following the hack. Intriguingly, the hacker left a message for the KyberSwap team indicating their willingness to negotiate.
