New reports have surfaced regarding another hack of decentralized cryptocurrency exchange, KyberSwap.

Blockchain security firm Cyvers detected a movement of $50 million worth of HXA tokens, the native utility token of the Herencia Artifex NFT project, to addresses linked to the KyberSwap exploiter.

According to Cyvers, the exploiter acquired the HXA tokens using the “transfer from” function, which is a common mechanism in decentralized apps (DApps) that allows one party to transfer tokens from another party’s balance.

Cyvers suggests that the breach involved a potential vulnerability in the Multicall function utilized in HXA’s smart contract. However, the security firm is encouraging collaborative investigation to fully understand the hack’s impact.
In response to this, cryptocurrency exchange MEXC has temporarily halted HXA deposits and withdrawals, citing abnormal on-chain activity rather than direct security concerns.

The news you see on this site are collected from reliable news sites. Therefore, original sources are used as much as possible.