KyberSwap’s $47M Remains Hostage, Hacker Shares New Demands

The hacker demanded complete authority over the governance mechanism of KyberSwap, and the surrender of both on-chain and off-chain assets.

A hacker sitting in a throne in a golden room.
Created by Gabor Kovacs from DailyCoin
  • KyberSwap recently fell victim to a cyberattack that resulted in a loss of funds.
  • The ongoing negotiations between the protocol and the exploiter have taken a different turn.
  • The KyberSwap exploiter has unveiled a list of ‘unique’ demands.

Following a security breach that saw a staggering loss of over $47 million, KyberSwap has been locked in intense negotiations with the perpetrator to reclaim the pilfered assets.

However, the drama has taken a surprising turn as the KyberSwap hacker unveils a set of unconventional demands in their latest statement for a potential treaty.

Hacker Demands to Be KyberCEO 

In a new set of on-chain messages on November 30, the KyberSwap exploiter laid out new requests for the protocol, including complete authority and ownership over the governance mechanism, specifically the KyberDAO.

The demands extend to relinquishing all documents and information associated with the protocol, including those pertaining to the formation, structure, operation, profits, and more.

An extract from the KyberSwap hacker's list of demands.

In addition, the Kyber exploiter demands the surrender of both on-chain and off-chain assets. This encompasses but is not restricted to shares, equity, tokens (both KNC and non-KNC), partnerships, and all creative and intellectual property associated with Kyber.

The self-appointed ‘KyberDirector’ went further to outline a financial blueprint contingent on the fulfillment of their demands. Addressing investors under the proposed treaty, the hacker promised prosperity for Kyber tokens.

“Token Holders and Investors, under this treaty, your tokens will no longer be worthless. Is this not sweet enough? I'll go further still. Under my management, Kyber will undergo a complete makeover. It will no longer be the 7th most popular DEX, but rather, an entirely new cryptographic project.”

The hacker promised KyberSwap executives and employees a fair buyout and doubled salaries, emphasizing their innocence in the small error. 

The hacker finalized the stipulations with a deadline, stating that the presented terms stand as their “best and only offer” and demanded compliance by December 10, 2023. They threatened that any engagement with agents from the 206 sovereignties regarding the trades on Kyber would result in the immediate termination of the treaty. In such an event, rebates would be reduced to zero.

Read more on the stages of negotiations and more demands from the Kyber attacker:
KyberSwap Hacker Doesn’t Mind Hostilities, Unfriendliness

Crypto firms seek less heated regions as regulatory pressure mounts, and Paxos is the latest. Read more: 
Paxos Diversifies from BUSD with New Abu Dhabi Stablecoin 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.