Ethereum's KyberSwap DEX Hacked - $265

Ethereum’s KyberSwap DEX Hacked – $265,000 Stolen in Latest Crypto Attack!

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-KyberSwap joins the list of DeFi projects to experience a front-end attack following the Curve Finance exploit from last month.
-Kyber Network, the liquidity protocol on which KyberSwap is based, said the assault on its website was immediately discovered and resolved within a few hours.
-On Sept. 1, Kyber Network identified a suspicious element on its front end, and on shutting down its front end to conduct investigations, the network said it identified a malicious code in its Google Tag Manager that inserted a false approval, allowing a hacker to transfer a users funds to his address.
-Further investigation revealed there was no further suspicious behavior after the malicious script was removed when the GTM was disabled, according to Kyber.
-The script was subtly inserted, and it was expressly designed to target whale wallets with enormous sums, the exchange said.
-After restoring the UI, necessary procedures were undertaken to find all of the attackers’ addresses, assess the damage, and determine which addresses were impacted, according to Kyber.
-Aave Matic interest-bearing USDC (AMUSDC) tokens worth $265,000 were moved by the hackers in four transactions.
-In exchange for returning the funds that were stolen, Kyber Network said it will pay the hackers a 15% reward totaling $40,000.
-The firm asked that the remaining cash be sent to a wallet address it has provided.
-No money has been repaid as of now.
-The crypto industry has been plagued with consistent attacks by bad actors.
-This year saw witnessed two of the biggest hacks in history, the first on an Ethereum-to-Solana bridge network in January and the second to Axie Infinity’s Ronin crypto bridge in March.
-Users at the time lost $878 million as a result of these two attacks alone.

blockchain 3448502 1920 Ethereum's KyberSwap DEX Hacked - $265,000 Stolen in Latest Crypto Attack!

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