Claim BonusJust In: KyberSwap Announces Treasury Grants for Hack Victims
KyberSwap has revealed plans to offer financial support to affected users. The decentralized finance protocol suffered a substantial exploit on November 22, resulting in a loss of $48.8 million. In response, KyberSwap is setting up a grant program from its treasury to compensate those impacted by the incident.
Details of the Grant Program
The grants, intended to alleviate the financial strain on victims, will match the USD value of the assets lost during the hack. This initiative underscores KyberSwap’s commitment to its user base and the security of its platform. While the grant’s exact mechanism and criteria are still finalized, KyberSwap has pledged to release more information in two weeks.
Investigations into the exploit have revealed that the vulnerability lay in the tick interval boundaries of KyberSwap’s concentrated liquidity pools. This flaw allowed an attacker to artificially inflate the liquidity, leading to a significant drain of funds.
Initially, the loss was estimated at $47 million, but further analysis confirmed the higher figure of $48.8 million. To recover the stolen assets, KyberSwap offered a 10% bounty to the perpetrator, a proposition that was met with unusual demands rather than acceptance.
KyberSwap’s Recovery Efforts
Interestingly, KyberSwap has successfully recovered $4.7 million of the stolen funds, which were separately taken by third-party MEV bots during the hack. This partial recovery and the proposed treasury grants reflect the platform’s proactive approach to addressing security breaches. Additionally, the incident has prompted a thorough review of KyberSwap’s security protocols, with the team committed to enhancing safeguards to prevent future exploits.
By offering treasury grants, this response to this crisis marks a notable effort in the decentralized finance community to maintain trust and support among its users following security breaches.
Read Also: Ripple CLO Spots ‘Troubling Pattern’ in SEC-Led Crypto Lawsuits
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Trump Backed Rick Rieder Now Leads the Odds for New Fed Chair
- Trump Threatens 100% Canada Tariffs as Bitcoin Holds $89K
- Is a Bitcoin Bull Run Possible in 2026? Here’s Why Arthur Hayes Thinks Yes
- Trump’s World Liberty Bank Charter Advances as OCC Rejects Senator Warren Criticism
- Gemini Lawsuit Dismissed: SEC Drops Case After Full Investor Recovery
- PEPE vs PENGUIN: Can Pengu Price Outperform Pepe Coin in 2026?
- Binance Coin Price Outlook As Grayscale Files S-1 for BNB
- Solana Price Prediction as SOL ETF Inflows Outpace BTC and ETH Together
- Bitcoin and Gold Outlook 2026: Warsh, Rieder Gain Traction in Trump’s Fed Pick
- PEPE Coin Price Eyes 45% Rebound as Buyers Regain Control on Spot Markets
- Pi Network Price Prediction: Will PI Coin Hold Steady at $0.18 Retrace Lower?
