Kyber Network Urges to Withdraw Funds Due to a Vulnerability

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Kyber Network has advised liquidity providers to withdraw funds from their Elastic product after a potential vulnerability was discovered.

The developers assured users that their funds were safe and that the bug did not affect other solutions from the project.

KyberNetwork has deactivated KyberSwap Elastic, leaving users the option to only withdraw their funds. They have apologized for any inconvenience caused and are providing more information about the situation and when KyberSwap Elastic will be enabled again.

The control token of the Kyber Network Crystal (KNC) protocol only lost 2% in value in a day. The total volume of funds blocked in the Elastic solution dropped from $108.4 million to $52.15 million in 24 hours.