Altcoin News by Thebittimes.Com

Following the Nov. 22 exploit, KyberSwap has announced a treasury grant program for affected users, according to a Dec. 20 release on their blog. In relation to the KyberSwap Elastic incident that transpired from 22 November 2023, 10:54:09 PM UTC, resulting in the exploit ative swaps by the exploit er that drained approximately $48.8 million of users ’ funds from KyberSwap Elastic liquidity pools, we reiterate our unwavering… — Kyber Network (@KyberNetwork) December 1, 2023 According to a Dec. 1 post on X, the KyberSwap elastic incident resulted in exploitative swaps that drained approximately $48.8 million of users’ funds from liquidity pools. At the time, the network behind the flagship product, KyberSwap, reaffirmed its commitment to collaborate with law enforcement and cybersecurity to identify the exploiter and recover users’ funds.  As part of their plan, KyberSwap shared their intention to provide grants to affected users, matching the USD value of the funds los...

The Kyber Network team has confirmed the incident, urging users to promptly withdraw their funds. Decentralized exchange protocol KyberSwap has allegedly suffered a hacker attack as more than $45 million worth of crypto has been drained from the project across multiple networks. Urgent Dear KyberSwap Elastic Users, We regret to inform you that KyberSwap Elastic has experienced a security incident. As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investigating the situation, and we… — Kyber Network (@KyberNetwork) November 22, 2023 The Kyber Network team has confirmed the incident in an X post, advising users to “promptly withdraw their funds.” The team also noted that KyberSwap’s aggregator “is not impacted and is operating fully as normal.” Kyberswap appears to have suffered from an exploit involving their liquidity pools. The issue does not appear to affect their router contra...

A Twitter user called out SushiSwap and urged the platform to take steps to prevent incidents in the future. Decentralized finance (DeFi) protocol SushiSwap recently suffered an exploit due to a smart contract bug leading to over $3 million in losses. Members of the crypto community responded to the hack, with some thinking that there was something fishy about the hack.  On April 9, Security firms detected unusual activities in the DeFi platform's smart contract that aggregates trade liquidity. A few hours later, a $3.3 million exploit was reported. Jared Grey, the head developer of the decentralized exchange, asked its users to revoke the permissions that they granted to the platform. The developer also said that they were able to recover some of the funds through a “whitehat Security process.” Community member Adam Cochran tweeted that the hack is “weird.” According to Cochran, the router contract that was "used by almost no one" was instantly exploited after getting...

The crypto community has come across an AI-powered chatbot that can be used to audit smart contracts and expose vulnerabilities. The online crypto community has discovered a new Artificial Intelligence (AI)-powered chatbot that can either be used to warn developers of Smart Contracts vulnerabilities or teach hackers how to exploit them.  ChatGPT, a chatbot tool built by AI research company OpenAI, was released on Nov. 30 and was designed to interact “in a conversational way” with the ability to answer follow-up questions and even admit mistakes, according to the company. However, some Twitter users have come to realize that the Bot could potentially be used for both good and evil, as it can be prompted to reveal loopholes in smart contracts. Stephen Tong, co-founder of smart contract auditing firm Zellic asked ChatGPT to help find an exploit , presenting a piece of smart contract code. OMG WTF pic.twitter.com/I2hE0e5ppq — cts (@gf_256) December 1, 2022 The bot responded by no...