KyberSwap Hacker Makes a Bold Demand : Ultimate Control Over the Company

The post KyberSwap Hacker Makes a Bold Demand : Ultimate Control Over the Company appeared first on Coinpedia Fintech News

The KyberSwap hack has been well known by the entire crypto industry for many days, and the shocking demands of hackers are catching the attention of investors. The hacker behind the $46 million KyberSwap exploit has proposed an unusual deal by seeking complete executive control over the Kyber company.

This unprecedented demand has sent shockwaves through the cryptocurrency community, leaving many to question the hacker’s motives and the implications for KyberSwap’s future. While some view the hacker as an opportunistic cybercriminal seeking personal gain, others perceive him as a potential savior aiming to restructure and revitalize the company.

Hacker’s Promises

To further complicate matters, the hacker has made several enticing promises alongside their sweeping demands. They have pledged to buy out the company’s executives at a fair valuation, double the salaries of employees under the new regime, and provide rebates to liquidity providers for their recent market-making activity.

These promises, if fulfilled, could potentially appease disgruntled employees and liquidity providers, painting the hacker as a benevolent figure seeking to improve KyberSwap’s fortunes. However, the notion of a hacker wielding absolute control over a cryptocurrency company raises concerns about transparency, accountability, and the potential for future misconduct.

Response By KyberSwap

KyberSwap has yet to publicly respond to the hacker’s demands, leaving the community in a state of uncertainty. The company faces a difficult decision, weighing the potential benefits of regaining control over its stolen funds against the risks of handing over the reins to an individual with a questionable track record.

The hacker’s demands, outlined in an on-chain message, also include temporary full authority to manage and own the KyberDAO, the company’s governance mechanism, as well as all documents related to Kyber and all of its assets.

The hacker has warned that if the Kyber team does not meet the demands by December 10, the agreement will be void.

Regardless of the outcome, the KyberSwap exploit is a significant setback for the company. The exploit has tarnished Kyber’s reputation and could have a lasting impact on its business.