Kyber Lianchuang and CEO: KyberSwap has laid off 50% of its employees, and its core business is still performing well after the platform was attacked

On December 25th, KyberNetwork co-founder and CEO Victor Tran stated on social media that in the past month, KyberSwap has faced unprecedented challenges due to the Elastic vulnerability. However, its core business, including the aggregator and limit order functions, still perform strongly. In addition, KyberSwap will soon launch the Zap API, an innovative development that will make dApps, wallets, and other projects the most convenient entry point for users to access DeFi liquidity protocols.

Due to the Elastic vulnerability, the platform has implemented the KyberSwap Elastic Exploit Treasury Grant program to support affected users and compensate them for 100% of their losses. In addition, the liquidity protocol plan and KyberAI project have been suspended. KyberSwap has also cut its workforce by 50% and is creating a voluntary database to connect departing team members with potential opportunities in the Web3 field. Other Web3 founders are advised to consider adding these excellent individuals to their teams.