KyberSwap Suffers $47 Million Exploit

Quick Take

• KyberSwap suffers a $47 million exploit.
• Lido discloses an InfStones vulnerability.
• Infinex announces plans to launch on Base.
• Sudoswap introduces gradual dutch auctions.

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KyberSwap Suffers $47 Million Exploit

KyberSwap, a multi-chain DEX, suffered an exploit resulting in the loss of over $47 million. Kyber liquidity providers are urged to immediately withdraw their assets. An attacker drained liquidity pools across Ethereum, Base, Optimism, Arbitrum, and Polygon. The DEX had about $72 million in TVL prior to the exploit. The attack appears to be related to liquidity pools and does not appear to involve token approvals. Following the incident, the attacker sent an onchain message to Kyber, stating, "Negotiations will start in a few hours when I am fully rested." The exploit is under active investigation.

Lido Node Operator Vulnerability

InfStones, a Lido node operator, has withdrawn all its validators due to a confirmed vulnerability reported by dWalletLabs. The vulnerability, which allowed for remote code execution (RCE) on validator servers, could enable attackers to gain control, execute code, and extract private keys, posing a substantial risk to network security. Exploiting a sufficient number of validators could result in significant control over the network. Attackers could also slash the stake by double-signing blocks. The ETH withdrawn from InfStones will be re-staked in the Lido protocol. Lido governance will need to approve a new set of keys for InfStones, which plans to re-enter as an operator.

Infinex To Launch On Base

Infinex, a new CEX-focused front-end for Synthetix, introduced XIP-3, a proposal to integrate Synthetix Perps V3 contracts into Infinex on Base Mainnet. The integration aims to support various order types, enhance security, and provide a user-friendly experience. Synthetix V3 is set to launch on Base as part of the Andromeda release. V3 core and Perps V3 are currently live on the Base Goerli testnet. Synthetix V3 introduces multi-collateral support, cross-margin trading, account-based access control, and new liquidation mechanisms. XIP-3 is currently open for community feedback before a vote goes live. Infinex is not yet live on mainnet.

Sudoswap Gradual Dutch Auctions

NFT aggregator Sudoswap introduced sudoAMM Gradual Dutch Auctions, a mechanism for gradually buying or selling NFTs over time. Similar to dutch auctions, gradual dutch auctions start with a high asking price that is lowered until a buyer makes a bid. The mechanism, which was developed by Paradigm, allows auctions to be executed in a gas-efficient manner. The feature is now live on Sudoswap.

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