KyberSwap's Desperate Gamble: $5M Bounty For Hacker's Return

Decentralized exchange KyberSwap publicly offered a 10% bounty to an unidentified hacker responsible for a cyber heist, in which funds worth over $50 million were siphoned off.

The offer was communicated through a message from a contract deployer wallet associated with KyberSwap.

The message acknowledged the high level of skill and planning involved in the hack, describing it as a high Expected Value (EV) operation that went unnoticed by experts.

KyberSwap put forth a proposal to the hacker: a bounty equivalent to 10% of the stolen funds in exchange for the safe return of all user assets.

This arrangement suggested a pragmatic approach to resolving the situation, prioritizing the recovery of user funds over punitive measures.

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The decentralized exchange outlined the terms of the deal, urging the hacker to return 90% of the stolen funds to a specified wallet address by 6 a.m. UTC, Nov. 25.

If the hacker complies, they will receive a 10% bounty, which will be set aside specifically for this purpose.

The message implied a sense of urgency and a desire to resolve the matter swiftly, allowing both the users and the hacker to move on.

This incident highlighted the ongoing challenges in the DeFi space, where sophisticated hacks and security breaches have become increasingly common.

KyberSwap's response to this incident was a notable example of how crypto platforms were navigating the complex landscape of digital asset security and user protection.

The outcome of this situation remained to be seen, as the crypto community and KyberSwap users awaited the hacker's response to this unconventional offer.

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