KyberSwap recovers $4.7 million after hack

Decentralized exchange KyberSwap managed to recover $4.67 million in funds following last week's security attack, which resulted in a total loss of $47 million from Kyber's concentrated liquidity pools.

According to Kyber's announcement on Twitter on Sunday, part of this recovery was achieved through negotiations with front-running bot operators, responsible for extracting around US$5.7 million in cryptocurrencies from the KyberSwap pools on the Polygon and Avalanche networks during the hack.

The bot operators agreed to a deal whereby they would return 90% of the funds they had received to a specific KyberSwap address on the Polygon network, receiving a 10% reward as an incentive.

This negotiation was conducted differently than with the lead hacker, who also expressed a willingness to negotiate. Despite the KyberSwap team offering a reward, negotiations with the hacker have not yet progressed.