The perpetrator of the KyberSwap hack has executed a maneuver, transferring $2.5 million, including substantial stablecoin assets, from Arbitrum to the Ethereum network. This revelation, brought to light by blockchain analytics firm PeckShield on Feb. 26, underscores the ongoing ramifications of the KyberSwap attack that unfolded on Nov. 23, 2023. Initially reported as a $46 million digital asset loss, subsequent investigations revealed the breach’s actual toll approached $49 million.
Following the attack, the hacker engaged in unprecedented negotiations with the KyberSwap team, initially responding to a $4.6 million bounty offer for the return of 90% of the stolen funds. However, the situation took an unexpected turn when the hacker demanded control over KyberSwap and its assets, including KyberDAO’s temporary full authority and ownership. The KyberSwap team responded with a strategy shift, initiating treasury grants for victims and eventually cutting half of its workforce a month after the exploit.
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