KyberSwap Exploit Linked to $50M HXA Token Movement
Blockchain security firm Cyvers has discovered a $50 million movement in HXA tokens, the native utility of the Hernesia Artifacts NFT project linked to the KyberSwap exploit.
The KyberSwap exploit address obtained these tokens from an Ethereum address using a “transfer from function”.
Decentralized application (DApp) users typically use the “transfer from” functionality. It refers to the mechanism by which one party (sender) can transfer or send balances from another party (owner) to a third-party address. However, improper use or exposure to such functions may lead to security risks.
ALEROur system has detected an unusual transaction related to the @KyberNetwork exploit.
@KyberNetwork exploit funded address received $50M from $HXA address from 0x0.000dEaD $ETH address. Address: pic.twitter.com/2SUHuNXqEN
— CyversAlerts (@CyversAlerts) December 8, 2023
Syvers said the security breach was related to a flaw in the Multicall function, part of a third-party web library used in the HXA token smart contract. It makes this point in its report and encourages interested parties to participate in the investigation to better understand the scope and consequences of the exploit.
Syvers Group's KyberSwap exploit proceeds have been distributed across various external holdings (EOAs), now recognized as the largest holders of HXA tokens.
Cryptocurrency exchange MEXC has temporarily suspended HXA token withdrawals and deposits. But the outage was not directly related to the security threat of the hack, but rather to H.A.A.
Related: KyberSwap Announces Treasury Grants for Hacking Victims
Related to the story, HXA Coin's official website hxacoin.io is currently inaccessible, leaving investors and stakeholders locked out of official information and updates. for w. There is no explanation
Hackers siphoned off about $46 million worth of crypto assets from the decentralized KyberSwap exchange last month.
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