KyberSwap
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 45 → 62. Problems weighed by who is responsible: incidents the subject suffered −20, problems around the subject, caused by others −1.1; legitimacy credit long-running +8; the penalty for incidents it suffered is capped at 20; fact-check adjustments (+17) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -1.1 |
| Long-running | +8 |
| Sum | 52 |
- The penalty for incidents it suffered is capped at 20 points.
Score: 62/100 (kept between 0 and 100)
How scoring works →Summary
KyberSwap is a multi-chain decentralized exchange aggregator and liquidity protocol operated by Kyber Network, offering the full-range KyberSwap Classic AMM and the concentrated-liquidity KyberSwap Elastic. On November 22, 2023, KyberSwap Elastic was exploited across 13 chains through a tick-manipulation and rounding-error flaw, with roughly $48.7-48.9 million taken by the primary exploiter and a further $6.6 million by front-running bots, despite prior audits. The alleged attacker, Canadian national Andean Medjedovic, demanded control of Kyber Network in exchange for returning half the funds, was indicted by the U.S. Department of Justice in February 2025, and remains a fugitive; Kyber compensated affected users through a Treasury Grant Program.
Connected Entities
17 entities · 60 linked investigations- KyberSwap Elastic→mentioned with→Ethereum(70%)
- KyberSwap Elastic→mentioned with→Polygon(70%)
- KyberSwap Elastic→mentioned with→Optimism(70%)
- Indexed Finance→mentioned with→Uniswap(65%)
- Indexed Finance→mentioned with→Ethereum(70%)
- KyberSwap Elastic→mentioned with→Arbitrum(70%)
- KyberSwap Elastic→mentioned with→Scroll(60%)
- KyberSwap Elastic→mentioned with→KyberSwap(80%)
- KyberSwap Elastic→mentioned with→Uniswap(60%)
- Indexed Finance→mentioned with→ZachXBT(65%)
- + 64 more
1 submission awaiting moderator review.
Timeline(22 events)
October 2021
Indexed Finance exploited for approximately $16 million; Andean Medjedovic later reportedly acknowledged responsibility.
CoinDeskDecember 2021
Canadian court issues an arrest warrant for Andean Medjedovic over the Indexed Finance exploit; he becomes a fugitive.
CBC NewsSeptember 2022
KyberSwap frontend exploit: a malicious script injected via a compromised third-party dependency redirects user approvals; no smart contract funds drained.
KyberSwap BlogMay 2023
KyberSwap Elastic contracts redeployed after hardening; ChainSecurity's final audit finds all issues resolved except one accepted low-severity item.
KyberSwap DocsSeptember 2023
Sherlock community audit contest with 207 participants concludes without identifying the tick-rounding vulnerability.
Sherlock GitHub22 November 2023
KyberSwap Elastic exploited across 13 chains; about $48.7-48.8 million taken by the primary exploiter and $6.6 million by front-running bots. KyberSwap suspends liquidity additions and urges users to withdraw.
KyberSwap Blog Post-Mortem23 November 2023
CoinDesk reports the exploit and the attacker's on-chain message that 'negotiations will start in a few hours when I am fully rested'; CoinDesk reports TVL falling from about $86 million to $7.17 million.
CoinDesk30 November 2023
Attacker, signing as 'Kyber Director', posts an on-chain ransom letter demanding executive and governance control of Kyber Network in exchange for returning 50% of the funds, with a December 10 deadline.
DecryptDecember 2023
Netherlands issues a European arrest warrant for Medjedovic; Dutch extradition documents allege the attack was carried out from a hotel in The Hague using a fake Slovak passport.
CBC NewsDecember 2023
Survivor-page dating: KyberSwap launches the Treasury Grant Program (60% short-vesting or 100% long-vesting stablecoin compensation) in late December (given as December 20).
KyberSwap Blog1 December 2023
Alternative dating: Kyber Network announces the Treasury Grant Program for affected users.
KyberSwap Blog24 December 2023
Kyber Network CEO Victor Tran announces a 50% workforce reduction (another input page dates the layoffs to 2024).
CoinTelegraph19 January 2024
Treasury Grant Program UI opens for registration; MEV bot operators return about $5.17 million of front-run assets.
KyberSwap BlogSeptember 2024
Andean Medjedovic arrested in Belgrade, Serbia, about nine months after the Dutch warrant.
CBC NewsNovember 2024
According to one input page, Medjedovic is released after 105 days when the Higher Court of Belgrade denies the Dutch extradition request.
CBC NewsJanuary 2025
Alternative dating (survivor page, given as January 17, 2025): after 105 days in Serbian custody, the Belgrade Higher Court denies extradition and Medjedovic is released.
CBC News3 February 2025
DOJ (EDNY) unseals a five-count indictment against Medjedovic (wire fraud, CFAA damage, attempted Hobbs Act extortion, money laundering conspiracy, money laundering) covering about $65 million across KyberSwap and Indexed Finance.
U.S. Department of Justice30 January 2026
Reports say Medjedovic has surfaced in Bosnia after slipping Serbian authorities; the DOJ says he remains at large and an Interpol Red Notice is active.
Balkan Insight24 March 2026
Reports say Medjedovic has hired a Washington, D.C. lobbying firm for about $300,000 to seek a presidential pardon.
Balkan InsightDecision Log
- slot 455365222 · hash AfKT1W31BFxgHpjHgegJBderCTV2hjmkxYvGkvq6fSLz
- slot 445507226 · hash 7CLLq3LTAU1dVUjmYtKEjjqaBmvUSd8jW49i1kfYhJ57
- slot 426514633 · hash wcdPZTm1Y78J6oXrXNjwL2CDFCnT5qxbfxXWSRoK6Q9
- slot 426514676 · hash 73i7eZvdC7DfWao8QjuzmMBJj82cMXbP7ryCYTA4LJVi
- slot 423210442 · hash CyjLUXoH3jFcxRSSSDXMcZ9EYRDtAhfJYA1hCbfckehJ
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 32 of 37 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 5/30/2026, 6:25:24 PM
last updated: 10/10/2026, 6:45:28 PM
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