KyberSwap Announces Treasury Grants to Compensate Hack Victims

KyberSwap Announces Treasury Grants to Compensate Hack KyberSwap, a decentralized finance protocol, has announced a treasury grant initiative to provide financial assistance to users impacted by a recent exploit. On November 22, the protocol suffered a significant security breach leading to a loss of $48.8 million. The grant is aimed at easing the financial burden on affected individuals by compensating the equivalent USD value of the assets lost. The vulnerability originated from tick interval boundaries within KyberSwap’s concentrated liquidity pools, which an attacker exploited. Following the breach, KyberSwap has recovered $4.7 million, initially taken by third-party MEV bots. This incident has led to a comprehensive review and enhancement of the platform's security protocols. KyberSwap's response, including the treasury grants, represents a significant step in maintaining trust and support within the decentralized finance community after security breaches​​​​​​​​​​​​.

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