{"id":24685,"date":"2023-11-23T08:13:48","date_gmt":"2023-11-23T08:13:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/dex-protocol-kyberswap-hacked-for-47-million\/"},"modified":"2023-11-23T08:13:48","modified_gmt":"2023-11-23T08:13:48","slug":"dex-protocol-kyberswap-hacked-for-47-million","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/dex-protocol-kyberswap-hacked-for-47-million\/","title":{"rendered":"DEX protocol KyberSwap hacked for $47 million"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1676474927121-228f62df-9c46-41d2-9eab-2d762a3cab19-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1676474927121-228f62df-9c46-41d2-9eab-2d762a3cab19-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1676474927121-228f62df-9c46-41d2-9eab-2d762a3cab19-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1676474927121-228f62df-9c46-41d2-9eab-2d762a3cab19-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Decentralized exchange (DEX) protocol KyberSwap has been hacked for $47 million.<\/li>\n<li dir=\"ltr\">The attacker drained $20 million in WETH, $4 million ARB and $7 million wstETH.\u00a0<\/li>\n<li dir=\"ltr\">KNC price fell to $0.72 while TVL plunged to $13.6 million.<\/li>\n<\/ul>\n<p dir=\"ltr\">DEX platform KyberSwap has been hacked, with approximately $47 million worth of crypto assets drained from its liquidity pools.\u00a0<\/p>\n<p dir=\"ltr\">It is the latest attack in the crypto industry, with this coming just a day after HTX\u2019s HECO chain bridge suffered an <a href=\"https:\/\/coinjournal.net\/news\/over-86m-drained-after-htx-globals-heco-bridge-security-breach\/\">$86 million exploit<\/a>.<\/p>\n<h2 dir=\"ltr\">KyberSwap exploited \u2013 what happened?<\/h2>\n<p dir=\"ltr\">KyberSwap alerted its users to the exploit early Thursday, advising that customers withdraw their funds as a precaution.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8Urgent\ud83d\udea8<\/p>\n<p>Dear KyberSwap Elastic Users,<br \/>We regret to inform you that KyberSwap Elastic has experienced a security incident. <\/p>\n<p>As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investigating the situation, and we\u2026<\/p>\n<p>\u2014 Kyber Network (@KyberNetwork) <a href=\"https:\/\/twitter.com\/KyberNetwork\/status\/1727475235342217682?ref_src=twsrc%5Etfw\">November 22, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">However, while it acknowledged the security incident, KyberSwap said the exploit did not impact its aggregator, which was reportedly \u201coperating fully as normal.\u201d<\/p>\n<p dir=\"ltr\">According to Smart Contract and EVM chain audit platform BlockSec, the KyberSwap exploit was \u201cdue to tick manipulation and double liquidity counting.\u201d The on-chain security said in a post on X that this was a flash loan attack, with the hacker executing swaps and manipulating prices and ticks of targeted liquidity pools.<\/p>\n<p dir=\"ltr\">\u201c<em>Ultimately, the attacker triggered multiple swap steps and cross tick operations, resulting in double liquidity counting and consequently draining the pools<\/em>,\u201d BlockSec <a href=\"https:\/\/twitter.com\/BlockSecTeam\/status\/1727560157888942331\" rel=\"noopener noreferrer\" target=\"_blank\"><u>noted<\/u><\/a>.<\/p>\n<p dir=\"ltr\">Stolen funds include $20 million in wrapped Ether (wETH), $4 million in Arbitrum (ARB) and $7 million in wrapped Lido-staked Ether (wstETH). The assets are spread across <a href=\"https:\/\/coinjournal.net\/ethereum\/\">Ethereum<\/a>, Arbitrum, Optimism, Polygon, and Base.\u00a0<\/p>\n<p>KyberSwap\u2019s total value locked (TVL) fell sharply after the attack, with data from DeFiLlama <a href=\"https:\/\/defillama.com\/protocol\/kyberswap\" rel=\"noopener noreferrer\" target=\"_blank\"><u>showing<\/u><\/a>\u00a0$13.61 million \u2013 down from over $83 million before the exploit. The Kyber Network Crystal (KNC) token was down 3.1% at the time of writing, trading near $0.722.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/dex-protocol-kyberswap-hacked-for-47-million\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Decentralized exchange (DEX) protocol KyberSwap has been hacked for $47 million. The attacker drained $20 million in WETH, $4 million ARB and $7 million wstETH.\u00a0 KNC price fell to $0.72 while TVL plunged to $13.6 million. DEX platform KyberSwap has been hacked, with [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24685"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24685"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24686"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}