DEX KyberSwap announces potential vulnerability

The Kyberswap Elastic decentralized cryptocurrency exchange's creator, Kyber Network, disclosed a possible vulnerability in the exchange's contracts on April 17. All liquidity providers have been urged to withdraw their cash as quickly as feasible.

DEX KyberSwap announces potential vulnerability

No money has been lost, according to the developer. However, it has cautionary urged liquidity providers (LPs) to withdraw their cash. The only money at risk is Kyberswap Elastic funds. The developers claimed that the vulnerability is not present in Kyberswap Classic smart contracts.

The team said in a different message that farming incentives have been put on hold until a new smart contract can be implemented. This interruption will not impact any prizes won before April 18, 2023, 11:59 p.m. (GMT+7), since they have already been distributed.

The developer has promised to inform the community as soon as it is safe to put money back into the protocol.

According to a recent article, Binance assisted in the investigation of a $265,000 attack on KyberSwap in September 2022. At the time, KyberSwap offered the hacker a 15% reward, or around $40,000, in exchange for returning the money.

By the time of publishing, Kyber Network has not responded to inquiries from any reliable sources.