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Decentralized Exchange KyberSwap Offers Bounty to Hacker Who Stole $50 Million

Decentralized Exchange KyberSwap Offers 10% Bounty to Hacker Who Stole $50 Million

In a significant turn of events, the Decentralized Autonomous Organization (DAO) managing KyberSwap, a decentralized exchange (DEX), has reached out to the hacker who successfully stole $50 million on November 22. Acknowledging the sophistication of the hack, the DAO has offered a bounty equivalent to 10% of the stolen funds, contingent on the safe return of all user funds.

You have carried out one of the most sophisticated hacks… We are offering a bounty equivalent to 10% of the user funds you stole through your hack, in exchange for the safe return of all user funds.

The hack against KyberSwap had a dramatic impact on its liquidity pools (LP), with the DEX’s TVL plummeting from approximately $80 million to just $7.78 million after the attack. The DAO’s response, through a message from a contract deployment wallet, indicates a strategic approach to negotiation, hoping to incentivize the hacker to return the stolen assets.

Deadline and the Trend of Hackers Teasing Victims

KyberSwap has set a deadline of November 25, 06:00 UTC, for the hacker to respond to their offer.

This tactic is part of a growing trend where protocol teams engage with attackers through transaction signatures and public messages. It reflects a new dynamic in the DeFi sector where negotiations and communication with hackers are becoming more commonplace as a means of recovering stolen funds and minimizing the impact of these exploits.

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