KyberSwap Calls on Liquidity Providers to Withdraw Crypto
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Kyber Network, the firm behind the KybeSwap decentralized exchanged, has called on liquidity providers to withdraw crypto from Elastic, a protocol for automated market making.

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In a tweet published on Monday, the firm said it had identified a "potential vulnerability," and as a "precaution" advised liquidity providers to withdraw their funds "as soon as possible."

"We will provide further details on the situation shortly and announce when KyberSwap Elastic is re-enabled. We apologise for the inconvenience caused."

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Although the nature of the vulnerability wasn't disclosed, Kyber Network says "no user funds are lost." It was also reported that KyberSwap Classic's protocol was not affected.

Kyber Network revealed the Elastic protocol in June 2022. With the protocol, liquidity providers can concentrate liquidity by using a narrow price range for the token pair, mimicking higher levels of liquidity.

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