Jamie Crawley is a CoinDesk news reporter based in London.

Kyber Network, a multichain decentralized finance (DeFi) platform, said it removed the attack vector used in an exploit that saw $265,000 stolen on Sept. 1.

  • Two wallets were affected by the attack, one of which has been fully compensated for the funds lost, Kyber said in update Tuesday.
  • "The other wallet provided approvals to the malicious script, and successfully revoked his approval before losing any funds," Kyber added.
  • Kyber said it had been able to "neutralize" the threat within two hours after the attack.
  • The attack exploited a vulnerability in Kyber's website code and thus differed from other DeFi attacks, which commonly target blockchain contracts. While the loss was relatively small, the attack highlighted the different ways in which DeFi platforms are vulnerable to cyberattacks.
  • The KyberSwap platform is a decentralized exchange that allows users to swap between currencies on different blockchains.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.