KyberSwap Frontend Mined, $265,000 Of User Funds Stolen

KyberSwap, a multi-component DEX aggregator, suffered a frontend attack and lost $265,000 in user funds. The platform claims they will compensate the victims of the hack and offer a 15% bonus to the hacker for returning the money.

On September 2 (GMT+7), KyberSwap, a multichain DEX aggregator, disclosed that a frontend exploit resulted in the theft of $265,000 in user funds. 15% is the bonus that KyberSwap will pay the hacker if he refunds the stolen money.

The notification claims that Kyber Network has suspended frontend activities while conducting an investigation after spotting a suspicious element on their front end. Additionally, they were able to construct a list of suspicious wallet addresses that were active at the time the exploit was active.

Two addresses were impacted and valuables totaling $265,000 were lost as of the time of writing. It appears that “whale” addresses were the targets of the hackers.

The group committed to cover the cost of any lost assets. Despite the fact that Kyber Network claims the threat has been eliminated, it warned against any unauthorized use of users’ wallets and urged all DeFi projects to review their frontends and related Google Tag Manager (GTM) scripts.

It seems that Kyber Network’s KNC token is not affected much by the news, the price has decreased slightly in the 1h frame. Currently KNC is trading at $1,761.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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