KyberSwap Fires 50% of its Staff
In November, KyberSwap faced unprecedented challenges following a hack on its Elastic Pools liquidity pool, leading to several tough decisions, including staff reductions, as mentioned by project founder Victor Tran.
To address the aftermath, the team implemented grants from the Treasury in December to fully cover user losses. The project also underwent significant operational changes to facilitate further development, such as the suspension of liquidity protocol initiatives and the KyberAI project.
Regrettably, a 50% reduction in staff was also undertaken. Victor Tran acknowledged these recent days as some of the most challenging in his entrepreneurial journey, expressing the heartbreak over parting with dedicated and highly qualified team members.
Despite this, he urged founders of Web3 projects to consider hiring these capable specialists who remain committed to advancing DeFi.
