How Was KyberSwap Exploited for $46 Million? ⚠️
#KyberSwap , a decentralized exchange, faced a security breach resulting in a $46 million loss across various crypto assets.
The attack impacted wrapped Ether, #Lido-staked Ether, and Arbitrum funds, spanning multiple blockchains like Ethereum, Polygon, and others.
Despite the protocol's warning to users and ongoing investigations, the breach caused a 68% drop in total value locked and significant asset withdrawals.
The #exploit triggered a 7% dip in Kyber Network Crystal token prices, although they've partially recovered. This incident follows a vulnerability disclosure earlier in the year that didn't result in fund losses.