Kyber Network Crystal Research Hub | KNC information, history and analysis
Kyber Network (KNC) is a DeFi project launched in 2017 as a trusted decentralized and decentralized cryptocurrency exchange platform that allows near-instant transactions and is convertible to any digital currency.
Kyber Network is developed on the Ethereum blockchain platform and is designed to meet the needs of trading and exchanging digital assets, allowing users to easily receive, send, transfer, and pay tokens without forcing them to own too many different applications.
KNC is a utility token on the Kyber Network platform. KNC is also a governance token. KNC holders can stake their tokens in KyberDAO to help manage the platform, vote on important proposals, and earn staking rewards in Ethereum (ETH) from transaction fees.
Andean Medjedovic faces federal charges for stealing $65 million from two DeFi protocols. The indictment specifies offenses including wire fraud and extortion. Currently at large, he has a history of academic excellence and engagement in exploitative trading practices.
With a background in mathematics, Medjedovic utilized complex strategies to manipulate liquidity pools. Notably, he is accused of attempting to extort KyberSwap by demanding control over the protocol’s governance in exchange for the return of stolen funds.
According to BlockBeats, KyberSwap has announced the integration of Ethervista’s liquidity pool into its platform.
This development aims to enhance the Ethereum ecosystem by providing a seamless token issuance experience.
Kyber network exploited across multiple chains for over $47 million
Recent reports reveal that Kyber network has suffered an exploit, with at least $47 million in losses recorded so far.
The Kyber Network has confirmed the attack and advises all users to withdraw their funds promptly.
Kyber Network: DeFi liquidity hub suffers frontend exploit
On September 2, KyberSwap, a multichain DEX aggregator, disclosed that a frontend exploit resulted in the theft of $265,000 in user funds.
According to the announcement, Kyber Network noticed a suspicious element on their front end and has shut down frontend operations to conduct an investigation. The team promised to reimburse the amount of assets lost.