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DeFi Platform Kyber Says It Removed Attack Vector, Compensated Affected Wallet
The Sept. 1 exploit saw $265,000 stolen from one Kyber wallet.
Updated May 11, 2023, 6:51 p.m. Published Sep 6, 2022, 11:09 a.m.
Kyber Network, a multichain decentralized finance (DeFi) platform, said it removed the attack vector used in an exploit that saw $265,000 stolen on Sept. 1.
- Two wallets were affected by the attack, one of which has been fully compensated for the funds lost, Kyber said in update Tuesday.
- "The other wallet provided approvals to the malicious script, and successfully revoked his approval before losing any funds," Kyber added.
- Kyber said it had been able to "neutralize" the threat within two hours after the attack.
- The attack exploited a vulnerability in Kyber's website code and thus differed from other DeFi attacks, which commonly target blockchain contracts. While the loss was relatively small, the attack highlighted the different ways in which DeFi platforms are vulnerable to cyberattacks.
- The KyberSwap platform is a decentralized exchange that allows users to swap between currencies on different blockchains.
Read more: 'Copycats' Stole $88M During Nomad Exploit by Copying Attacker's Code: Coinbase
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