Cryptocurrency Q&A
What happened to KyberSwap?
What happened to KyberSwap?
Federico
Mon Sep 16 2024
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5 answers
1093
So, what exactly transpired with KyberSwap? I've heard rumors about some significant changes or setbacks, but I'm not quite sure of the full story. Could you provide a brief overview of what happened? Did they encounter any technical difficulties, regulatory hurdles, or perhaps a shift in their business strategy? It's crucial for the crypto community to stay informed about such developments, so shedding some light on this matter would be greatly appreciated.
5 answers
BonsaiGrace
Wed Sep 18 2024
On November 23, 2023, KyberSwap, a prominent multi-chain decentralized exchange aggregator, suffered a significant setback. The platform was targeted by a sophisticated smart contract reentrancy attack, marking a pivotal moment in its operational history.
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BlockProducer
Wed Sep 18 2024
The attack's aftermath was devastating, with an estimated loss of approximately $47 million across various blockchain networks. This incident underscored the importance of robust security measures in the decentralized finance (DeFi) space.
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KatanaSharpness
Wed Sep 18 2024
The total value locked (TVL) on KyberSwap plummeted by a staggering 90% following the attack, signaling a loss of trust and confidence among users. The swift decline in TVL highlights the sensitivity of the DeFi market to such incidents.
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Rosalia
Wed Sep 18 2024
BTCC, a leading cryptocurrency exchange, offers a diverse range of services that cater to the needs of traders and investors alike. Its comprehensive suite of offerings includes spot trading, futures trading, and a secure wallet solution.
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Michele
Tue Sep 17 2024
By providing these services, BTCC enables users to access the cryptocurrency market with ease and convenience. Its spot trading platform allows for seamless buying and selling of digital assets, while its futures trading feature offers advanced trading strategies and risk management tools.
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