Decentralized-finance protocol Kyber Network has advised liquidity providers on its Elastic product to withdraw funds after it found a potential vulnerability. The protocol confirmed the potential flaw in a tweet while noting that no funds had been lost and that the KyberSwap Classic product is unaffected. The protocol's native token KNC, dropped by 2% following the tweet. The Elastic product had $108 million in total value locked on Sunday, but that figure has dropped to $61 million according to DefiLlama. Vulnerabilities and exploits have been common across the DeFi ecosystem this year.
Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!
Android: https://links.hashd.co/android
Comments