KyberSwap hacker demands full control after $47m exploit

A black hat hacker proposed a takeover of KyberSwap’s protocol with terms including a doubling of employee salaries and executive buyouts.

In an unprecedented twist, the hacker who stole $47 million in cryptocurrencies from defi exchange KyberSwap issued demands for total control of the protocol and all its assets. The unidentified individual or group attached its terms to a transaction seen on Etherscan, a widely used blockchain explorer. 

KyberSwap’s exploiter shared four primary demands including complete control of Kyber as a company, temporary ownership of KyberDAO and its governance mechanism and access to company records. Also, the hijacker said Kyber must surrender all on-chain and off-chain assets.

The time-limited offer is valid until early next month, the hacker said. 

This is my best offer. This is my only offer. I require my demands to be met by December 10, otherwise, the treaty falls through.

KyberSwap hacker

Kyber’s would-be director offered incentives for staff and top officials if their demands are met. The hacker will buy out executives at a fair valuation and double Kyber employee salaries as well, according to the list of demands. 

Additionally, the exploiter plans to revamp Kyber’s project and reimburse liquidity providers for 50% of losses suffered due to the hack. The hacker warned against involving authorities from any of the 206 sovereignties and provided a Telegram handle should Kyber pursue dialogue. 

“Additionally, should I be contacted by agents from any of the 206 sovereignties, concerning the trades I placed on Kyber, the treaty falls through. In this case, rebates will total to exactly O. Kyber is one of the original and longest-running DeFi protocols. No one wants to see it go under. To assist with this transition of leadership, I may be contacted on telegram: @Kyber_Director.”

KyberSwap hacker

The individual responded to commentary requests from crypto.news regarding the demands, stating that the hacker may speak on the subject following the Dec. 10 self-imposed deadline. 

These terms were issued on Nov. 30, roughly a week after KyberSwap suffered a multichain exploit and was thrust into on-chain beef with a mysterious hacker. Victor Tran, co-founder and CEO of KyberSwap, said a response would be published on Dec. 1.