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KyberSwap Exploiter Issues Ultimatum for Company Takeover

KyberSwap Exploiter Issues Ultimatum for Company Takeover

Key Takeaways

  • The KyberSwap hacker demands complete executive control over the Kyber company and governance mechanism in return for the stolen funds.
  • The hacker proposes significant changes, including doubling employee salaries and transforming Kyber into a new cryptographic project.
  • A strict deadline of December 10th has been set for Kyber to comply, with threats of invalidating the offer if not met or if any contact is made regarding the hacker's trades.

The hacker responsible for the $46 million KyberSwap exploit has issued an audacious set of demands.

On November 30th, a startling on-chain message from the KyberSwap hacker surfaced, targeting all relevant and interested parties.

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The demands were unusually specific: the hacker seeks not only complete control over Kyber company but also temporary authority over KyberDAO, the company's governance mechanism. Additionally, the hacker wants access to all company documents and assets.

In a bold statement, the hacker promised to offer fair valuation buyouts to Kyber's current executives, wishing them success in their future endeavors.

Under the proposed new leadership, the hacker vowed to double employee salaries and provide those unwilling to stay with a 12-month severance package with full benefits and career transition support.

Furthermore, the hacker's plans include transforming Kyber into a new cryptographic project.

Is this not sweet enough? I'll go further still. Under my management, Kyber will undergo a complete makeover. It will no longer be the 7th most popular DEX, but rather, an entirely new cryptographic project.

The hacker also addressed liquidity providers, promising a 50% rebate on recent market-making losses. This offer was described as a compromise, being more than what the providers deserve yet less than their expectations.

The hacker set a firm deadline of December 10th for Kyber's team to comply with these demands. Failure to meet these conditions by the deadline, or any attempts by agents to contact the hacker regarding trades made on Kyber, would invalidate the offer

The KyberSwap hacker's ultimatum presents a critical and unprecedented challenge for the Kyber company, demanding complete control and significant organizational changes in exchange for the return of stolen funds, with a firm deadline and stringent conditions attached.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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