The $265k KyberSwap breach from yesterday reportedly has two perpetrators, according to the security team at Binance. The KyberSwap team has got the information, claims CZ, CEO of Binance. It was also made known that CZ is working closely with law enforcement to apprehend the offenders.
Remember that the Binance cryptocurrency exchange has full KYC enabled, enabling it to identify users based on their physical addresses and facial characteristics.
The news has eased KyberSwap, which had earlier promised to reimburse the affected users for the money that was taken.
Customers can obtain the most recent token prices from tens of thousands of exchanges using a DEX aggregator called KyberSwap. The program also does automated market making (AMM) using several pools of liquidity.
KyberSwap, a multi-chain solution that made use of several blockchains, was susceptible to security breaches because of its subpar architecture.
It should be noted that the business had previously promised the hacker a bug reward of 15% of the cash in exchange for their return. According to KyberSwap, the hacker is unable to cash out the stolen funds covertly.
As stated, Binance has identified the offenders and is now working with the appropriate law enforcement.
In the wake of the KyberSwap attack, the platform has recommended other DeFi projects to carefully check their frontend code and associated Google Tag Manager (GTM) scripts. According to KyberSwap, the attacker may have attacked several decentralized financial systems using a similar method.
The KyberSwap attacker reportedly targeted whale wallets specifically, only hitting two known addresses so far. The platform is certain that no other users were harmed by the incident from yesterday as a result.
While this is happening, KyberSwap is backed by 12 chains, more than 66 DEXs, and a total of more than $24 billion in value that has been locked. The DEX aggregator supports more than 20,000 cryptocurrency tokens.
Notably, the KyberSwap TVL (total value locked) is $71.61 billion, and the total trading volume is $10.35 billion.
