Kyber Network cuts workforce by 50% one month after $49M exploit

THE farm said It is priorities NOW are has keep KyberSwap Aggregator And Limit Order functions up And running And has repay impacted customers.

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THE team behind decentralized finance protocol KyberSwap has "Unfortunately" cut It is Workforce by 50% has keep THE the company business operations up And running following It is $48.8 million exploit In November.

"Unfortunately, We to have Also reduced OUR Workforce by 50%, said Kyber The network CEO Victor Tran on Dec. 24. "THE decision has part manners with SO a lot of OUR team members was heartbreaking. »

In THE pass month, KyberSwap has confronted unprecedented challenges due has THE Elastic exploit. Despite This, I am grateful has say that OUR heart business, including THE Aggregator And Limit Order functions, remains robust.

Moreover, We will Soon be launch OUR Zap API, and…

— Victor Tran (@vutran54) December 25, 2023

THE Challenge farm will, However, create A "voluntary database" has help departure employees seek new opportunities In THE Web3 space, he said.

I am happy that I obtained THE privilege has work together with THE Kyber talented team. However, following month I will be A Kyber former students.

I wish following year I can build on Solana, socket inspiration Since A of Kyber old students as @weremeow https://t.co/2MCTejFJQb

— Jume ◉ (@0xJume) December 25, 2023

HAS slow THE rate of capital spent, Tran said Kyber Network has temporarily on break It is liquidity protocol initiatives And KyberAI project.

THE CEO However stress that It is heart business remains intact, including Kyb....