No menu items!
More

    KyberSwap Hacker Demands Company Control in Unhinged On-Chain Ransom Letter

    The shadowy hacker behind last week’s massive $48 million drain of decentralized finance (DeFi) market maker KyberSwap has finally listed their requirements: simply complete charge of the organization, forever. 

    The exploiter, who now apparently has accepted the moniker “Kyber Director,” authored a wide open, on-chain letter sent with an Ethereum transaction Thursday requesting Kyber’s leadership hands them the secrets of the 100-plus person company. 

    One of the hacker’s particular demands: the surrender of complete executive control of Kyber Network, the organization behind KyberSwap full (“temporary”) authority within the company’s governance DAO use of all internal company documentation relating to Kyber’s structure, revenue, operations, expenses, salaries, investors, assets, and liabilities and forfeiture of assets underneath the company’s control, varying from tokens, shares, and equity to creative and ip by means of social networking channels, blogs, and websites. 

    To acquire this king’s ransom, the hacker has guaranteed to get Kyber’s new, benevolent overlord, and guide the organization right into a new beginning. That new regime would see company executives banished outdoors the castle walls, to create method for a brand new age. They’d, based on the hacker, be purchased from the organization in a “fair valuation.”

    “You is going to be wanted well inside your future endeavors,” the hacker authored. “You haven’t done anything wrong…. Simply misfortune.”

    Current non-executive employees, meanwhile, would purportedly not just be retained—but see their salaries bending. 

    “It is understandable many employees may wish to leave regardless,” the exploiter authored of expected ramifications of the installment as Kyber’s sole ruler. “The employees who shouldn’t stay will be presented a 12-month severance with full-benefits and assistance to find a new job, no questions requested.”

    Kyber Network presently has a minimum of 117 employees, based on LinkedIn, varying from data scientists and engineers to graphic artists, marketing specialists, and office managers. The organization relies in Singapore.

    For Kyber Network token holders, and investors—they must only rejoice, based on the hacker. 

    “Under this agreement, your tokens won’t be useless,” “Kyber Director” declared. “Is this not sweet enough? I’ll go further: under my management, Kyber will undergo an entire makeover. It won’t function as the seventh most widely used DEX, but instead, a completely new cryptographic project.”

    While Kyber’s management might not be inclined to surrender their company towards the anonymous individual that required it hostage, they finish up in an especially tough place.

    The KyberSwap protocol presently just $7.17 million as a whole value locked, based on DefiLlama. Just before last week’s hack, and also the company’s following advisement that users withdraw funds in the vulnerable platform, that figure sitting at $86 million.

    Their leadership has until December 10 to simply accept the hacker’s offer, based on today’s letter. At that time, “the agreement doesn’t happen.” Should any government entity contact the hacker, the offer may also fall through, with no Kyber worker or executive will get the stolen funds, based on the note. 

    Decrypt arrived at to both Kyber Network and also the hacker concerning the condition of negotiations, but didn’t immediately get a response from either party. 

    The hacker ended their ransom letter on the somewhat cheery note, by emphasizing they shouldn’t see Kyber go below, and they respect its stature like a lengthy-running DeFi project. 

    Meanwhile, they may be arrived at on Telegram in the address @Kyber_Director.

    Edited by Andrew Hayward

    Stay on the top of crypto news, get daily updates inside your inbox.

    Latest stories

    You might also like...