Lord777
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Representatives of the decentralized exchange KyberSwap reported on the hacking of the Elastic Pools liquidity pool, as a result of which hackers withdrew about $47 million from the protocol.
"As a precautionary measure, we strongly recommend that all users withdraw their funds immediately," the project team warned.
The first hack was discovered by user X under the pseudonym Spreek, indicating a suspicious withdrawal of funds.
According to his calculations, the stolen assets include $7.5 million in the Ethereum network, $15 million in Optimism, $16 million in Arbitrum, $2.8 million in Polygon and $870,000 in Base.
The hacker also left a message attached to the transaction:
"Dear KyberSwap developers, employees, DAO members and partners, negotiations will begin in a few hours when I am fully rested. Thank you."
Cinneamhain Ventures general Partner Adama Cochran believes that the exploit was made possible by using flash credits and "some mathematical calculations." He came to this conclusion because each transaction of the attacker began with the receipt of ETH to pay for the swap.
"As a precautionary measure, we strongly recommend that all users withdraw their funds immediately," the project team warned.
The first hack was discovered by user X under the pseudonym Spreek, indicating a suspicious withdrawal of funds.
According to his calculations, the stolen assets include $7.5 million in the Ethereum network, $15 million in Optimism, $16 million in Arbitrum, $2.8 million in Polygon and $870,000 in Base.
The hacker also left a message attached to the transaction:
"Dear KyberSwap developers, employees, DAO members and partners, negotiations will begin in a few hours when I am fully rested. Thank you."
Cinneamhain Ventures general Partner Adama Cochran believes that the exploit was made possible by using flash credits and "some mathematical calculations." He came to this conclusion because each transaction of the attacker began with the receipt of ETH to pay for the swap.
