- Kyber network exploiter drained the protocol’s liquidity pools of nearly $50 million on November 22.
- The team behind Kyber managed to recover $4.67 million and communicated with the exploiter for the remainder of assets.
- The exploiter has asked for complete control of the protocol and all company assets in a long list of demands.
Kyber Network, a cross-chain decentralized exchange and aggregator, was hit by an exploit that drained nearly $50 million in cryptocurrencies from its liquidity pools. The exploiter contacted the team, asking them to await a statement concerning a “potential treaty.”
In the November 30 message, the exploiter has reportedly asked for complete control of the protocol.
Also read: Breaking: Kyber network exploited across multiple chains for over $47 million
Kyber exploiter “sweetens the deal” for employees, liquidity providers and customers
As promised, the Kyber exploiter contacted the team and presented an offer “a treaty,” wherein they asked for complete control of the company and its assets in exchange for double compensation of employees, 50% rebate to market makers on the losses they incurred and a promise of a new “cryptographic project.”
In the November 30 message recorded on the blockchain, here, the exploiter presented the team with the final and only proposed treaty and asked for the following:
- Complete executive control over Kyber.
- Temporary full authority and ownership over the governance mechanism (KyberDAO).
- All documents and information related to company/protocol formation, structure, operation, revenues, profits, expenses, assets, liabilities, investors, salaries, etc.
- Surrender of all on-chain and off-chain Kyber assets, including but not limited to: shares, equity, tokens (KNC and non-KNC), partnerships, blogs, websites, servers, passwords, code, social channels, any and all creative and intellectual property of Kyber.
The exploiter has set a December 10 deadline for their demands to be met. In the event any “agents” or authorities get in touch with them for their trades placed on Kyber, the treaty falls through.
The protocol has recovered some assets, find more details about it here.
Kyber Network did not immediately respond to a request for comments.
