Prior to the incident, more than $80 million was locked up in the decentralized exchange.
As a precautionary measure, administrators are advising users to withdraw all funds from KyberSwap, a DEX that has been attacked for nearly $50 million. An exploiter has indicated that negotiations will soon begin with the exchange, which administrators are advising users to withdraw all funds from.
The on-chain data shows that funds are mostly stolen in Ethereum, wrapped ether (wETH), and USDC. Several cross-chain KyberSwap deployments have also been hit by the attacker, with over $20 million taken from Arbitrum, $15 million taken from Optimism, and $7 million taken from Ethereum.
Experts believe the theft is the result of a targeted attack on the liquidity provider pools themselves, not a bug in the DEX’s approval authorization code.
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