Kyber Network plans to reward hackers if they return the stolen funds.
KyberSwap, a decentralized exchange (DEX) aggregator and liquidity protocol operating on Kyber Network, has faced a frontend exploit and is now offering a 15% bounty for returned funds.
According to the blog post shared by Kyber Network, the company noticed suspicious actions on their frontend on September 1st.
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It turns out that the hackers have launched a malicious code in the company’s Google Tag Manager (GTM), which allowed these actors to transfer some of the user funds to their own wallets.
It is estimated that the hackers stole around $265,000. The company reassured that all affected by the exploit will be compensated. Moreover, the Kyber Network is allowing the hackers to return the funds, offering them a 15% bounty (around $40,000 worth of crypto) before any legal actions are taken.
Kyber Network has sent the message to hackers, noting:
We know the addresses you own have received funds from central exchanges and we can track you down from there. We also know the addresses you own have OpenSea profiles and we can track you through the NFT communities or directly through OpenSea. As the doors of exchanges close upon you, you will not be able to cash out without revealing yourself.
On September 3rd, the Binance security team identified two potential hackers involved in the KyberSwap exploit. Binance’s CEO Changpeng “CZ” Zhao used Twitter to confirm this news.
This year, the crypto community was shaken by multiple hacks. One of the most significant hacks was the Nomad token bridge exploit, where hackers drained the bridge of $200 million worth of crypto.
Similar to Kyber Network, Nomad offered a 10% bounty for those who will return stolen funds. On August 20th, the company reported that around 20% of all stolen funds were returned.
by Aaron S. – Expert Reviewer, BitDegree
SOURCE: COIN JOURNAL
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