Kyber Network: Approximately $54.7 million stolen by hackers, willing to offer a 10% bounty to the hackers

ChainCatcher message, Kyber Network released an update on the attack incident on platform X. On November 22, the attacker exploited the KyberSwap Elastic smart contract to perform a series of complex operations for vulnerability swapping, thereby extracting user funds into the attacker's wallet. Approximately $54.7 million of user funds were exploited by the attacker.

In response, we have suspended deposits, launched an investigation, contacted relevant parties, and engaged in negotiations with the attacker, striving to help users recover as much of their funds as possible, including offering a 10% bounty as a reward for returning the exploited funds to users. Kyber Network stated that the team is taking this incident and its impact on users very seriously in order to recover user funds from the attacker.