Kyber Network Investigates Ways to Reverse Token Swap That Cost User $2 Million

A user on Kyber Network lost $2 million in what is believed to be a routing error on the defi platform. The network has also dubbed it a mistake on the user's part and announced a rectification of the trade.

Timeline of Kyber-network-crystal-v2

KyberSwap and Lido Finance previously partnered to bring stMATIC and wstETH liquidity on Polygon, Arbitrum and Optimism. And that partnership has so far proven successful with a noteworthy $15m in daily trading volume across all Lido pools.

KeyberSwap today unveiled the incorporation of multichain into their system in a bid to ease transactions involving cross-chain bridges. Zhaojun, the firm's co-founder believes the incorporation is a significant move towards the firm's future goals.

KyberSwap has integrated Multichain to bring even more ease and accessibility to KyberSwap users. So you can now bridge your token assets from chain A to chain B in a single transaction.

Kyber Network (KNC) has recently struggled against tether (USDT) after its price was rejected at $5.5. Bitcoin's (BTC) price increased dramatically, rising from a low of $18,500 to a high of $21,000.

Crypto exchange giant Binance says it has identified the bad actors suspected to be behind the hack of decentralized exchange (DEX) KyberSwap. The perpetrators allegedly injected malicious script on KyberSwap's Google Tag Manager (GTM) on September 1st, enabling them to move users' funds.

Binance's security team has identified two suspects in the $265K KyberSwap hack, according to CEO Changpeng Zhao, and has shared the intel with Kyber. The post Binance security team has identified two suspects in KyberSwap hack, CZ says appeared first on The Block.

With $265,000 in funds siphoned off, decentralized exchange (DEX) KyberSwap joins the list of DeFi projects to experience a front-end attack following the Curve Finance exploit from last month. Kyber Network, the liquidity protocol on which KyberSwap is based, said the assault on its website was immediately discovered and resolved within a few hours.

The price of kyber network crystal (KNC), a utility token for the Kyber Network ecosystem, increased on Friday after a front-end attack was discovered a day earlier that drained at least USD 265,000 from the multi-chain decentralized exchange, aggregator KyberSwap. KNC was worth USD 1.756 at 09:10 UTC on Friday.

Multi-chain DeFi protocol Kyber Network (KNC) revealed that it suffered an exploit on its frontend on September 1, leading to a loss of $265,000 from two whale wallets. The post DeFi protocol Kyber Network suffers frontend hack, loses $265K appeared first on CryptoSlate.

Kyber Network identified and fixed a vulnerability in the front-end. The attacker managed to steal $265,000 through malicious code that was discreetly inserted into the Google Tag Manager.