The Decentralized Autonomous Organization (DAO), which operates the decentralized exchange KyberSwap (DEX), reached out to the attacker who stole $50 million on November 22 with the message: We want to negotiate.
The attack targeted KyberSwap’s liquidity pools (LPs). The DEX, which had a Total Value Locked (TVL) of around $80 million before the attack, now only has $7.78 million.
“They have carried out one of the most sophisticated hacks. That was a high EV and everyone missed it,” the DAO wrote over a message from a contract deployer wallet, using an initialism for the expected value. “There is a bounty on the table equal to 10% of users’ funds taken from them through your hack, for the safe return of all users’ funds.”
KyberSwap gave the attacker a deadline of November 25, 06:00 UTC to return the funds.
Hackers tease their victims by signing transactions with text chains. This is an increasingly common trend in decentralized finance exploits. It is also a way for protocol teams to negotiate with their attackers.
According to DefiLlama, over $290 million has been lost to DeFi hacks this month and around $1.2 billion so far this year.
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