Kyber Network DEX hacked

Kyber Network is currently being exploited on all the chains right now. Kyber Swap, on other hand, is not impacted and operating as usual.

KyberSwap Elastic DEX has been drained and almost all funds have been stolen. $20.7 million in Arbitrum, $15 million in Optimism, $7 million in Ethereum, $3 million in Polygon, and $2 million in Base have been stolen so far. The Kyber Network team wants to negotiate with the hacker / exploiter but he has replied back saying “Negotiations will start in a few hours when I’m fully rested. Thank you.”

This message was sent at 1945 EST which means the hacker is from North or South America.

Keep in mind that any project that forked from Kyber Network Swap Elastic code is at risk. For instance, Horizon DEX is a fork of Kyber Swap Elastic and their team has sent a message on X to withdraw funds from Horizon DEX immediately.

This is a sad day for DEXes as Kyber Network was one of the real OGs. This hack has caused a quite a lot of damage to cryptocurrency world. While their team might be able to negotiate with the hacker and get most funds back, this will leave a permanent dent on DEXes  reputation.