Hacker behind $65 million cryptocurrency theft revealed, Kyber Network speaks out

(NLDO)- Immediately after the incident occurred, Kyber Network made efforts to fix the problem and has so far supported 100% of users' legitimate damages.

Recently, an indictment was announced in the Federal Court in Brooklyn (USA), accusing Andean Medjedovic (Canadian nationality) of wire fraud, computer attacks, and attempted extortion after stealing about 65 million USD in crypto assets from two decentralized finance (DeFi) protocols, KyberSwap (more than 47 million USD) and Indexed Finance (more than 16 million USD).

Medjedovic is also accused of laundering money from the stolen assets. Currently, the defendant is still on the run. The case is being handled by specialized units.

Immediately after the indictment was announced, Mr. Tran Huy Vu, CEO and co-founder of Kyber Network, once again affirmed that Kyber was not involved in the Kyber Elastic attack and the previous baseless self-hacking rumors.

"False rumors have negatively affected the Kyber community and reputation, as well as the Vietnamese blockchain community. We thank domestic and foreign organizations, technology units, legal, and law enforcement agencies for their cooperation in investigating and tracing.

Mr. Tran Huy Vu, CEO, Co-founder of Kyber Network.

In particular, the Vietnam Blockchain Association is the unit that has coordinated the investigation as well as provided accurate information to the community," Mr. Tran Huy Vu emphasized.

Kyber Network has been working to fix the issue since the incident occurred, and Kyber has so far covered 100% of users’ legitimate damages, the head of Kyber said.

Mr. Phan Duc Trung, Chairman of the Vietnam Blockchain Association, said this incident is a lesson for technology businesses to constantly improve and ensure the safety of the decentralized financial ecosystem.

This is also an example of the adaptability and perseverance of Vietnamese technology startups in the international market.

Kyber Network is one of the pioneering blockchain projects in the world with Vietnamese technology, founded in 2017 by Luu Loi and Tran Huy Vu.

Source: https://nld.com.vn/lo-dien-hacker-dung-sau-vu-trom-65-trieu-usd-tien-so-kyber-network-len-tieng-196250204160258221.htm