Hacker Withdraws $47M from DEX Protocol KyberSwap
KyberSwap, a decentralized exchange protocol, reportedly fell victim to a theft of $47 million according to data on the blockchain.
The stolen funds were from Elastic Pools, a liquidity solution offered by the platform. Unexplained transfers were spotted by a user named Spreek on X, which showed a significant amount of funds being moved from wallets associated with the protocol into a single wallet.
These included $20.7 million on Arbitrum, $15 million on Optimism, $7 million on Ethereum, $3 million on Polygon, and $2 million on Base.
A substantial portion of the transferred funds were in various forms of ether, as well as other tokens like Arbitrum (ARB) and stablecoins. KyberSwap issued a statement on X, warning its users about a security breach on KyberSwap Elastic and urging them to withdraw their funds immediately.
The team also assured regular updates on the situation as they continue to investigate.
