KyberSwap Hacker Offers to Double the Salaries of 100+ Employees

The KyberSwap hacker finally spoke out to negotiate with the Kyber team, after draining $54.7 Million in user funds from Kyber Elastic’s Liquidity Pools and Farms last week.

Through an on-chain letter, the hacker referred to themself as “Kyber Director”, demanding “complete executive control over Kyber” and “surrender of all Kyber assets”, amongst other detailed requests.

The hacker stated their intentions to turn Kyber into an “entirely new cryptographic project”, despite acknowledging KyberSwap as the 7th most popular DEX.

In return for these demands, the hacker asked for the departure of current executives offering to buy them out at a “fair valuation”, whilst retaining 100+ non-executive employees with salaries doubled under the “new regime”.

In a tweet response, Co-Founder Victor Tran voiced his priority in supporting Kyber users in their lost funds:

Co-Founder Loi Luu echoed this commitment - expressing enthusiasm as they now seem to be clearer on their next steps.

Kyber acknowledged this exploit to be “one of the most sophisticated in DeFi history”. This statement was affirmed by others like Doug Colkitt, Founder of Ambient Finance.

Based on the contents of the letter, it's evident that the exploit was thoroughly planned, underscoring the considerable sophistication of hackers operating within the space.