KyberSwap Dex was hacked for $48 million

Additionally, the DEX strongly suggests that all customers “promptly withdraw their funds.”

An attack has been found for KyberSwap, which is a decentralized exchange and aggregator that is implemented over 15 different blockchains.

After what the exchange called a “security incident,” KyberSwap was notified on X. “As a measure of safety, we strongly encourage all users to quickly withdraw their funds.”

It was also recommended by Stani Kulechov, the creator of the lending protocol, that users remove any allowances that were connected with Kyber.

A total value locked (TVL) of $86.8 million was held by Kyber prior to the hacking incident. Kyber was created in 2018.

Spreek, a well-known voice in the decentralized finance sphere, said that the hacker, who is sending cash to this wallet, has accumulated $48 million as of Wednesday evening New York time.

It has been determined that twenty million dollars had been taken from Kyber’s Arbitrum deployment, fifteen million dollars from Optimism, and more than seven million dollars from Ethereum.

According to statements made on X by Spreek and 0xngmi, the pseudonymous inventor of DeFi Llama, the assault is exclusively aimed against liquidity providers (LPs). It has been stated by the DEX that it is “diligently investigating the situation.”

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