Kyber Network Hack Update: Attack Vector has been removed and affected wallet fully compensated

The Kyber Decentralized Exchange (DEX) network has revealed that the attack vector responsible for last week’s exploit has been identified and successfully removed.

In its latest blog post, the platform notified the community that the KyberSwap website and user interface are safe and that the attack was neutralized on the afternoon of the same day it was captured.

Kyber exploit update

According to a temporary update from the DeFi platform, the attack affected two wallets. One of them was fully compensated by all means. He added,

“The other wallet gave consent to the malicious script and successfully revoked its consent before any money was lost. No other wallets are affected or money lost as a result of this exploit.”

Kyber is currently working with industry partners, top security experts and law enforcement agencies to identify hackers and recover stolen funds. He also confirmed that additional information about the hack and the root cause will be made available later this month.

Frontal attack on the keeper

On September 1, the Kyber Network, the liquidity protocol on which the KyberSwap platform relies, was hit by a frontal attack. The team discovered a vulnerability in their website code that helped attackers hack the app’s interface through a Google Tag Manager (GTM) script.

According to the company’s announcement, by injecting malicious script via GTM, the attackers were able to induce users to authorize their money and send it to the hackers’ address, stealing $265,000 in the process.

The KyberSwap team then revealed that the attackers had secretly released a nasty script targeting wallets on Ethereum and Polygon. He also indicated that affected users would be fully compensated and tried to open a dialogue with the attackers by offering 15% of the money from the $265,000 as a bug bounty.

Less than 48 hours later, crypto exchange Binance has identified two suspects and shared the information with KyberSwap as well as relevant law enforcement agencies.

DeFi vulnerabilities have proliferated, and criminals are constantly increasing their efforts to exploit potential vulnerabilities. According to a Chainalysis study, hackers have stolen nearly $1.4 billion in digital assets since January 2022, an almost eightfold increase from the corresponding period last year.

While detailing several DeFi hacks and exploits, the FBI recently issued a statement warning investors to proceed with caution.

Post Kyber Network Hack Update: The attack vector has been removed, and the affected wallet with full compensation appears for the first time on CryptoPotato.

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