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KyberSwap Considers Compensation for Users After $48.8M Exploit, Proposes 10% Reward for Perpetrator

CryptoKyberSwap Considers Compensation for Users After $48.8M Exploit, Proposes 10% Reward for Perpetrator

Decentralized platform KyberSwap is considering financial assistance for users impacted by a significant exploit on November 22, 2023, resulting in a $48.8 million loss. KyberSwap is reportedly initiating a compensation program from its treasury to alleviate the financial strain on affected individuals, equivalent to the USD value of the assets lost in the security breach. The platform is expected to provide more details within two weeks. Initially reported as a $47 million loss, KyberSwap later confirmed the total as $48.8 million. In an effort to recover assets, KyberSwap proposed a 10% reward to the perpetrator. The proposed recovery and treasury grants aim to address security concerns on the platform.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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