{"id":77357,"date":"2023-04-17T16:32:13","date_gmt":"2023-04-17T13:32:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77357"},"modified":"2025-09-10T22:50:55","modified_gmt":"2025-09-10T19:50:55","slug":"kyber-network-team-urges-withdrawal-of-funds-amid-vulnerability","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kyber-network-team-urges-withdrawal-of-funds-amid-vulnerability\/","title":{"rendered":"Kyber Network team urges withdrawal of funds amid vulnerability"},"content":{"rendered":"<p>The DeFi protocol Kyber Network advised liquidity providers to withdraw their funds from the Elastic product after a potential vulnerability was identified.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1\/2<br \/>Attention KyberSwap Elastic Liquidity Providers:<br \/>We have identified a potential vulnerability, and as a precaution we strongly advise all Liquidity Providers to withdraw your funds on Elastic as soon as possible.<\/p>\n<p>Investigations are ongoing and no user funds are lost.<\/p>\n<p>\u2014 Kyber Network (@KyberNetwork) <a href=\\\"https:\/\/twitter.com\/KyberNetwork\/status\/1647920799557505028?ref_src=twsrc%5Etfw\\\">April 17, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The team said that user funds were safe and that the bug did not affect Kyber Network\u2019s other solutions.<\/p>\n<p>Developers deactivated KyberSwap Elastic, leaving only the ability to withdraw funds.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe will provide further information on the situation soon and announce when KyberSwap Elastic will be re-enabled. We apologise for the inconvenience,\u201d the team said.<\/p>\n<\/blockquote>\n<p>The Kyber Network Crystal (KNC) governance token barely reacted to the incident \u2014 in 24 hours the asset lost 2% in value (<a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/kyber-network-crystal\\\">CoinGecko<\/a>).<\/p>\n<p>The total value of funds blocked in Elastic fell from $108.4 million to $52.15 million over 24 hours.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"369\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/image-198-1024x369.png\\\" alt=\\\"image-198\\\" class=\\\"wp-image-204556\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/image-198-1024x369.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image-198-300x108.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image-198-768x276.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/image-198.png 1389w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Data: <a href=\\\"https:\/\/defillama.com\/protocol\/kyberswap-elastic\\\">DefiLlama<\/a>.<\/figcaption><\/figure>\n<p>In September 2022, hackers <a href=\"https:\/\/forklog.com\/en\/news\/unknown-attackers-hack-kyberswap-frontend\">\u0432\u0437\u043b\u043e\u043c\u0430\u043b\u0438 \u0438\u043d\u0442\u0435\u0440\u0444\u0435\u0439\u0441<\/a> non-custodial KyberSwap exchange. User losses totaled 265,000 <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a>.<\/p>\n<p>The protocol team <a href=\"https:\/\/forklog.com\/en\/news\/kyber-network-team-compensates-265000-stolen-in-hack\">addressed the attack vector and compensated all losses<\/a> to the affected users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The DeFi protocol Kyber Network advised liquidity providers to withdraw their funds from the Elastic product after a potential vulnerability was identified.<\/p>\n","protected":false},"author":1,"featured_media":77358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1301,1416],"class_list":["post-77357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-vulnerabilities","tag-kyber-network"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=77357"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77357\/revisions"}],"predecessor-version":[{"id":77359,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/77357\/revisions\/77359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/77358"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=77357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=77357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=77357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}