KyberSwap Victims Get Paid: $48M Exploit Recovered Through Grants

Key Points:

• KyberSwap has introduced the Treasury Grant Program to assist users impacted by the KyberSwap Elastic Exploit.
• The program provides grants based on selected options for vested stablecoins equivalent to a percentage of the affected assets’ reference value.

KyberSwap victims get paid based on selected options. Assets in five categories were impacted, with some partially recovered. Distribution starts on Feb 1, 2024.

KyberSwap has announced the Treasury Grant Program to support users affected by the KyberSwap Elastic Exploit. The exploit impacted five categories of assets contributed by users to KyberSwap Elastic Pools.

These assets were either removed or locked in the pools. The affected users will have the opportunity to see their assets via a provided link, except for assets that interacted with third-party smart contracts. KyberSwap is exploring solutions for these third-party affected assets.

The grants will be based on the selected treasury grant option, which includes options for vested stablecoins equivalent to a percentage of the reference value of affected assets.

KyberSwap Victims Get Paid On Feb 1, 2024

The timeline for the program includes a UI launch for users to select their preferred treasury grant option and complete the KYC process. Treasury grants will start being distributed on February 1, 2024, based on the grant terms.

Affected assets under Category 3, which were taken by front-run bots, have been partially recovered, and arrangements are being made to return them to the affected users. Affected users can check their Category 3 assets via the provided link.

Additionally, some assets under Category 5, which remained locked after the exploit, have been recovered, and they will be returned to each affected address based on their share of ownership in each affected pool.

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