In an astonishing turn of events, the KyberSwap hacker, involved in a $48 million exploit of the DeFi protocol, made ridiculous demands. He demanded control of the protocol and all assets, governance mechanisms, and access to company records. According to the hacker, the protocol has until December 10. This threat hasn’t gone down well with the protocol, though. The exchange reiterates its commitment to support law enforcement and cybersecurity to track down the exploiter and recover stolen funds.
On a lighter note, Polygon (MATIC) has its sights set on $1 following an impressive rally. Meanwhile, InQubeta (QUBE) has cemented its status as a top ICO after raising $6.2 million in presale.
This post will cover the KyberSwap exploit and the ensuing developments. In addition, it will explore Polygon’s bullish outlook and explain why InQubeta is the best new crypto to invest in. Let’s begin.
InQubeta (QUBE): 2023’s Top ICO
After raising over $6.2 million in its ongoing presale, InQubeta (QUBE) has earned the right to be called 2023’s best ICO. It stands out not only for its immense growth potential but also for its practicality. Hence, there has been an unprecedented show of interest in its presale.
Regarding its practicality, its real-world application involves becoming the first crowdfunding platform for AI tech startups through cryptocurrency. By minting investment opportunities—represented as equity-based NFTs—AI developers can source funds. In addition, it also aims to make the promising AI market accessible to users through a fractional investment model. This will allow users to invest in and back emerging AI projects with potential.
With significant returns to be made as an investor or token holder, the InQubeta ecosystem is the place to be. The presale is in the fifth stage, and a token costs just $0.0161. According to top experts, it has a 45x upside potential, positioning it as a good crypto to buy.
KyberSwap Hack and Ridiculous Hacker Demands
The DeFi exchange KyberSwap was hacked late last month, with the hacker carting off approximately $48.8 million of user’s funds. That wasn’t all. On November 30, a week after the exploit, the mysterious hacker made shocking demands.
Their demands included complete control of the protocol, access to company records, and temporary ownership of the KyberDAO. More importantly, the company must surrender all assets. These demands must be met before December 10 without involving authorities, they added. In a further twist, they offered incentives for staff if demands were met, including doubling employee salaries.
Expectedly, the co-founder and CEO, Victor Tran, was livid at the audacity. On December 1, the crosschain DEX, via its official page on X (formerly Twitter), released a statement. The exchange maintained its commitment to support law enforcement and cybersecurity efforts to bring down the hacker and recover lost funds. At the moment, the protocol is working to extend grants to users who lost funds in the exploit.
Polygon (MATIC): $1 Before End of the year
In a more optimistic development, Polygon (MATIC) is aiming for $1, following a remarkable rally. The market experienced a strong uptick in the early hours of Monday, with Polygon surpassing $0.8. With more upside potential, MATIC is positioned as one of the best coins to invest in.
According to analysts, Polygon will reach $1 before the end of 2023. From its current valuation, MATIC seems like a steal. This makes it one of the best cryptos to buy now and a must-have in your portfolio.
The factors that will contribute to its uptrend include growing adoption as a scaling solution and the overall market rally.
The coming days promise to be exciting. For one, there is the KyberSwap hacker’s ultimatum. In addition, Polygon continues its rally, which might see it reach $1, while InQubeta is expected to continue its dominance.