šØ Unprecedented Hacker Ultimatum: KyberSwap Faces Startling Demands After $50 Million Breach
š Security Breach Update: The Fallout and Hacker's Audacious Demands Revealed
In the aftermath of the recent $50 million breach on KyberSwap, a multi-chain decentralized exchange (DEX) aggregator, the hacker, self-identified as "Kyber Director," has shocked the crypto community by issuing extraordinary demands via an Ethereum blockchain transaction.
š¤Æ Unparalleled Demands: A Hacker's Bold Proposition
The demands set forth by the hacker are unlike any seen in the history of cryptocurrency breaches. "Kyber Director" is demanding complete executive control over Kyber, the company, and full authority over its governance mechanism, KyberDAO.
š Ultimatum Details: Surrender and Transformation
The hacker's demands include the surrender of all company assetsāboth on-chain and off-chaināencompassing shares, equity, tokens, partnerships, and intellectual property.
š° Compensation and Assurance for Stakeholders
Remarkably, the hacker offers to buy out executives at a fair valuation, double the salaries of remaining employees, and provide a 12-month severance package for those choosing to leave. Token holders and investors are assured that their tokens will retain value, and liquidity providers (LPs) are offered a 50% rebate on recent losses.
ā° Deadline Looms: Dec. 10 Decision Point
The hacker has set a deadline of December 10 for these demands to be met, emphasizing that failure to comply will result in the withdrawal of the proposal.
š¼ Background on the $47 Million Attack
KyberSwap suffered a significant smart contract reentrancy attack on November 23, resulting in a staggering loss of approximately $47 million across multiple networks.
š”ļø Mitigation Efforts Underway
In response to the breach, Kyber Network has been actively working to mitigate future risks and enhance the platform's security.
š Stay Informed, Stay Secure: Follow The Blockopedia for Real-time Updates!
