Kyber Network: Plans to distribute compensation to users through KyberSwap Treasury

ChainCatcher message, Kyber Network announced on platform X that on November 22, the Kyber Swap Elastic incident occurred, which resulted in exploiters withdrawing approximately $48.8 million in user funds from the Kyber Swap Elastic liquidity pool.

Currently, Kyber Network plans to compensate each user (who lost funds in the exploit and has not yet recovered them) through the Kyber Swap Treasury, with amounts up to the dollar value of these funds at the time they were withdrawn from their respective liquidity pools. Kyber stated that it is formulating the details of the funding assistance for the aforementioned proposal and will announce more details in the next two weeks.