- Hacker behind the $48 million KyberSwap hack is demanding complete control of the company, including assets, profits, documents, and the DAO.
- Hacker offers to buy out executives, double employee salaries, and provide rebates to LPs and token holders if demands are met.
- Demands include a December 10 deadline and threaten to void agreement if contacted by “agents”, displaying an audacious level of power grab.
The attacker behind the recent $48 million hack of KyberSwap is now demanding complete control of the decentralized exchange. Their outrageous list of terms includes full authority over the company, its assets, profits, documents, and even the DAO.
Complete Takeover Demanded
In an on-chain message, the hacker stated “My demands are as follows: Complete executive control over Kyber (the company).” They also want temporary full ownership of KyberDAO to “enact legislative changes.” Additionally, the hacker is demanding all of KyberSwap’s on-chain and off-chain assets be forfeited.
$48 Million Already Stolen
This startling message comes just eight days after the hacker drained $48 million from KyberSwap across multiple chains. The funds were taken from deployments on Arbitrum, Optimism, Polygon, Base, and Ethereum.
Community Bewildered by Brazenness
The crypto community expressed shock at the hacker’s audacity. Comments ranged from calling them “unhinged” to noting this may be the first ever “hostile protocol takeover.”
Hacker Offers Executives a Deal
In their terms, the hacker states they will buy out executives at a “fair valuation” if demands are met. They claim the executives “haven’t done anything wrong” and it’s “simply bad luck.” The hacker also offered to double employees’ salaries under the “new regime” or provide a 12-month severance package.
LPs and Token Holders Also Offered Rebates
The hacker says they will provide a 50% rebate on losses to liquidity providers who have been market making. They also claim a “complete makeover” of KyberSwap will make the tokens “no longer worthless.”
December 10th Deadline Issued
This brazen list of demands comes with a December 10th deadline. The hacker says this is the best and only offer. They also threaten to void the agreement if contacted by “agents.”
The KyberSwap hacker’s demands for complete control of the DEX display a level of audacity that has shocked the crypto community. Their terms grant no real justice, only seeking to solidify the power they have obtained through malicious actions. Despite the looming deadline, KyberSwap executives have yet to publicly respond.
