As per reports, on April 17, 2023, Kyber Network, a developer of the Kyberswap Elastic decentralised crypto exchange platform, mentioned that the exchange’s contract can face threats, stated Cointelegraph. Reportedly, the exchange has announced that the liquidity providers (LPs) should remove their funds as soon as possible.
On April 17, 2023, “Attention KyberSwap Elastic Liquidity Providers: We have identified a potential vulnerability, and as a precaution, we strongly advise all Liquidity Providers to withdraw your funds on Elastic as soon as possible. Investigations are ongoing and no user funds are lost,” Kyber Network tweeted.
Furthermore, it is expected that only the Elastic funds of Kyberswap are open to threat and the Kyberswap smart contracts are safe, Cointelegraph highlighted.
Sources revealed that Kyberswap has paused its framing rewards until any new smart contract is added. It is believed that the rewards earned before April 18, 2023, 11pm(GMT+7) will not be affected by this temporary pause, Cointelegraph concluded.
(With insights from Cointelegraph)
Follow us on Twitter, Facebook, LinkedIn
