Nearly $54.7M stolen in KyberSwap crypto heist

Decentralized exchange protocol KyberSwap has disclosed losing nearly $54.7 million worth of cryptocurrency following a cyberattack on Nov. 22, which involved a complex exploitative swap attack chain aimed at users' funds, reports The Record, a news site by cybersecurity firm Recorded Future. Investigation into the intrusion, which KyberSwap noted to be "one of the most sophisticated" attacks in decentralized finance history, has commenced as it temporarily suspended deposits and begun negotiating with attackers in a bid to recover the stolen funds. "On the table is a bounty equivalent to 10% of users' funds taken from them by your hack, for the safe return of all of the users' funds. But we both know how this works, so let's cut to the chase so you and these users can all get on with life," said KyberSwap in response to a message posted by the attacker regarding negotiations for the stolen data.

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