{"id":87403,"date":"2023-11-23T10:00:29","date_gmt":"2023-11-23T08:00:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87403"},"modified":"2025-09-13T11:37:31","modified_gmt":"2025-09-13T08:37:31","slug":"hacker-drains-kyberswap-elastic-pools-of-about-47-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hacker-drains-kyberswap-elastic-pools-of-about-47-million\/","title":{"rendered":"Hacker drains KyberSwap Elastic Pools of about $47 million"},"content":{"rendered":"<p>KyberSwap representatives said that the Elastic Pools liquidity pool was breached, with the hacker withdrawing around $47 million from the protocol.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?Urgent?<\/p>\n<p>Dear KyberSwap Elastic Users,<br \/>We regret to inform you that KyberSwap Elastic has experienced a security incident. <\/p>\n<p>As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investigating the situation, and we\u2026<\/p>\n<p>\u2014 Kyber Network (@KyberNetwork) <a href=\"https:\/\/twitter.com\/KyberNetwork\/status\/1727475235342217682?ref_src=twsrc%5Etfw\">November 22, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs a precautionary measure, we strongly urge all users to promptly withdraw their funds,\u201d the project team warned.<\/p>\n<\/blockquote>\n<p>The first to detect the hack was user X under the alias Spreek, pointing to a <a href=\"https:\/\/debank.com\/profile\/0xc9b826bad20872eb29f9b1d8af4befe8460b50c6\">suspicious withdrawal<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Kyber being exploited on all chains rn. here&#8217;s an example tx on base. 20m+ lost already <a href=\"https:\/\/t.co\/gvv7M9HWH6\">pic.twitter.com\/gvv7M9HWH6<\/a><\/p>\n<p>\u2014 Spreek (@spreekaway) <a href=\"https:\/\/twitter.com\/spreekaway\/status\/1727462694138024249?ref_src=twsrc%5Etfw\">November 22, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to his calculations, the stolen assets include $7.5 million on the Ethereum network, $15 million on Optimism, $16 million on Arbitrum, $2.8 million on Polygon, and $870,000 on Base.<\/p>\n<p>The hacker also left a message with the transaction:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cDear KyberSwap developers, staff, members <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a> and partners, negotiations will begin in a few hours once I have fully rested. Thank you.\u201d<\/p>\n<\/blockquote>\n<p>Adam Cochran, general partner at Cinneamhain Ventures, believes the exploit was possible thanks to the use of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-flash-loans\">flash loans<\/a> and &#8220;some mathematical calculations.&#8221; He arrived at this conclusion because each attacker transaction began with ETH arriving to pay for the swap.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Looks like the Kyber exploits is flash loans and some sort of math\/rounding issue.<\/p>\n<p>Each tx is starting with an ETH balance coming in, looped mint\/redeem\/swap.<\/p>\n<p>So likely not a risk to approvals from non-LPs but worth staying frosty<\/p>\n<p>\u2014 Adam Cochran (adamscochran.eth) (@adamscochran) <a href=\"https:\/\/twitter.com\/adamscochran\/status\/1727469209737732459?ref_src=twsrc%5Etfw\">November 22, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier unknown <a href=\"https:\/\/forklog.com\/en\/news\/hacker-siphons-off-25-million-from-kronos-research-platform\">withdrawn $25 million<\/a> in cryptocurrencies from the Taiwan-based Kronos Research trading platform.<\/p>\n<p>Earlier on November 22, Justin Sun <a href=\"https:\/\/forklog.com\/en\/news\/analysts-estimate-losses-from-htx-and-heco-bridge-hack-at-110-million\">reported<\/a> a hack on HTX&#8217;s hot wallet and the <a href=\"https:\/\/forklog.com\/en\/news\/what-are-cross-chain-bridges\">cross-chain bridge<\/a> Heco Bridge. Experts estimate the damage at over $110 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Representatives of the decentralized exchange KyberSwap reported a breach of the Elastic Pools liquidity pool, through which the hacker withdrew about $47 million.<\/p>\n","protected":false},"author":1,"featured_media":87404,"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":[44,1416],"class_list":["post-87403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-kyber-network"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87403","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=87403"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87403\/revisions"}],"predecessor-version":[{"id":87405,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87403\/revisions\/87405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/87404"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=87403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=87403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=87403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}