On November 23, an unidentified hacker stole over $45 million from the decentralized exchange KyberSwap. The breach affected multiple cross-chain deployments of KyberSwap, including Arbitrum, Optimism, and Ethereum, with funds stolen primarily consisting of Ether, Wrapped Ether, and USDC. Following the incident, Kyber Network advised users to withdraw their funds as a precaution. The hack caused KyberSwap’s total value locked (TVL) to drop by nearly 87%, resulting in a significant decrease in user withdrawals. The Kyber Network Crystal (KNC) token also lost more than 5% in value. This is not the first incident to impact KyberSwap’s TVL, as a potential vulnerability was identified in April 2023. However, it’s important to note that the April incident was related to a vulnerability, not a confirmed hack like the one on November 23.

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Information	Details
Geography	Asia
Countries	🇦🇲
Sentiment	negative
Relevance Score	1
People	None
Companies	Ethereum, DeFiLlama, Optimism, KyberSwap, Arbitrum
Currencies	Ethereum, Bridged Wrapped Ether, USDC
Securities	None