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KyberSwap Exploiter Distributes $50M to Largest HXA Token Holders

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KyberSwap Exploiter Distributes $50M to Largest HXA Token Holders

  coinedition.com 3 h

KyberSwap Exploiter Distributes $50M to Largest HXA Token Holders

In a recent communication, the prominent blockchain security firm Cyvers reported a concerning development related to the recently exploited platform KyberSwap, renowned for facilitating crypto assets exchange without intermediaries.

According to the update, Cyvers’ system has identified an “abnormal transaction” linked to the bad actors that exploited the Kyber Network. Specifically, the Cyvers team disclosed that the address associated with the Kyber Network exploiter received $50 million worth of HXA tokens from an Ethereum address using an unusual function.

Moreover, Cyvers highlighted that the funds were subsequently distributed to various externally owned accounts (EOAs), with these EOAs identified as the largest holders of the HXA tokens.

🚨ALERT🚨Our system has detected an abnormal transaction related to the @KyberNetwork exploiter.

The address funded by the @KyberNetwork exploiter has received $50M worth of $HXA from the 0x0..000dEaD $ETH address using transferfrom function! 🤯
Address: https://t.co/byZyFaorNA.… pic.twitter.com/2SUHuNXqEN

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) December 8, 2023

Notably, KyberSwap was one of the crypto platforms that suffered from the high-profile security exploits that rocked the month of November, losing multi-million dollars.

Meanwhile, the security firm underscored that HXA, the native utility token of the Herencia Artifex NFT project, utilizes Thirdweb libraries in its smart contract implementation. Cyvers suspects that the KyberSwap exploit may be linked to a vulnerability in the Multicall function. The security firm invites interested parties to reach out for additional information for further investigation into the matter.

In a follow-up post on X, Cyvers disclosed that withdrawals and deposits of HXA tokens have been suspended on both Gate.io and MEXC exchanges. While it comes following the detected abnormal transaction, it is unclear whether the deposit and withdrawal suspicion were in response to the security concerns arising from the exploited funds.

Additionally, Cyvers mentioned that the HXA coin website, normally accessible at hxacoin.io, is currently unavailable, which remains so at the time of reporting.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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