KyberSwap Exploiter Tied to $50M HXA Token Movement

In a significant development in the world of cryptocurrency security, Cyvers, a blockchain security company, has reported a suspicious transaction involving the KyberSwap exploiter. This transaction, identified as “abnormal” by Cyvers, involves the transfer of $50 million worth of HXA tokens, the native utility token of the Herencia Artifex NFT project.

The address linked to the KyberSwap exploiter received these tokens from an Ethereum address using an uncommon function, raising concerns about the security of cryptocurrency transactions and the integrity of the Kyber Network.

KyberSwap Hack Triggers Major HXA Suspensions

The Cyvers team has further revealed that the funds obtained by the KyberSwap exploiter were distributed to several externally owned accounts (EOAs). These accounts are now identified as the largest holders of the HXA tokens. This distribution pattern has attracted attention due to its unusual nature and the high-profile nature of the KyberSwap exploit, which occurred in November and resulted in significant financial losses.

Following the detection of this abnormal transaction, Gate.io and MEXC, two major cryptocurrency exchanges, have suspended withdrawals and deposits of HXA tokens. This move, while not explicitly linked to the security concerns, indicates the exchanges’ cautious approach in the wake of the KyberSwap exploit. This precautionary measure reflects the growing awareness and need for stringent security protocols in the crypto world.

HXA Token Security Breach Raises Concerns

The security breach is suspected to be connected to a vulnerability in the Multicall function, a component of the Thirdweb libraries used in the HXA token’s smart contract implementation. Cyvers has put forth this possibility in their report, suggesting a link between the KyberSwap exploit and the broader issues of smart contract security. The firm has invited interested parties to contribute to the ongoing investigation to understand this exploit’s full scope and implications.

Adding to the concerns, the HXA coin’s official website, hxacoin.io, is currently unavailable. This development further complicates the situation, as access to official information and updates from the token’s creators is crucial for investors and stakeholders. The reasons behind the website’s unavailability remain unclear, and how this will impact the ongoing investigation and the confidence of the HXA token holders is yet to be seen.

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

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