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 es
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