This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
11/27/2023
KyberSwap Says Hackers Stole $55m in Crypto
Infosecurity Magazine
Decentralized exchange KyberSwap has become the latest crypto firm to lose millions to digital thieves, after reporting a highly sophisticated cyber-attack.
In a post on Friday, the firm revealed that the attack took place on November 22, resulting in a loss of nearly $55m in users’ funds.
“On Nov 22 10:54 PM UTC, attackers exploited KyberSwap Elastic smart contracts using a series of complex actions to conduct exploitative swaps, enabling the withdrawal of users’ funds into the attackers’ wallets. Around $54.7m of users’ funds were exploited by the attackers,” it said.
“In response, we paused deposits, launched an investigation, contacted relevant parties & initiated negotiations with the attackers in an effort to help users recover as much as possible, including offering a 10% bounty as an incentive for returning the users’ exploited funds.”
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information