- Kyber Community hacker transferred 600 ETH by way of Twister Money.
- ETH is down 2.9% within the final 24 hours and is buying and selling at $2,644.
- Kyber Community's KNC token is down 92% from its all-time excessive.
A hacker focusing on Kyber Community, a outstanding blockchain undertaking and multi-chain liquidity protocol hub, despatched $1.65 million in Ethereum (ETH) by way of Twister Money, an Ethereum mixing protocol that has caught the eye of regulators all over the world as a consequence of its use by fraudsters and hackers .
PeckShield, a blockchain analytics platform, first reported the switch of funds to X. The exploiter's pockets despatched 600 ETH to Twister Money, the place it was blended with cryptocurrencies from different sources, making it troublesome for regulation enforcement to hint the funds.
Undertaking CyberSwap Exploit Nonetheless Haunts
In November of final yr, attackers stole $47 million from Kyber Community's KyberSwap, a multi-chain DEX aggregator, throughout a number of networks. Complete log lock worth (TVL) decreased by 90%. After the hack, the undertaking requested its customers to withdraw funds instantly and commenced investigating the exploit.
The sale of ETH might have an effect on the worth of the world's second largest digital asset, which has already fallen 2.9% within the final 24 hours. The cryptocurrency is presently buying and selling at $2,644.61, down 45.78% from its all-time excessive of $4,891.70.
Additionally learn: Bitfinex Hacker Faces 5 Years, Prosecutors Search To Deter Crypto Crime
After Bitcoin (BTC) recovered to $69,000 after which dropped to $67,000, ETH additionally rose to $2,700 earlier than going through resistance close to $2,800. Because of this ETH has as soon as once more failed to interrupt above the $3,000 worth stage.
KNC Prize Nosedives
Kyber Community's native token, KNC, has fallen sharply and is buying and selling at $0.4506. The altcoin has a market capitalization of $83 million and is ranked 423rd on CoinMarketCap. KNC has fallen 30% since October final yr and is down 9% up to now seven days.
Additionally Learn: WazirX Hackers Are Nonetheless At It – One other $12M Disappears In Money Twister
KNC is buying and selling at a big low cost of 92.04% to its all-time excessive of $5.72 witnessed in April 2022 when the crypto market entered a bearish part.
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