The attacker who drained $46 million from KyberSwap relied on a “complex and carefully engineered smart contract exploit” to carry out the attack, according to a social media thread by Ambient exchange founder Doug Colkitt. 

Colkitt labeled the exploit an “infinite money glitch.” According to him, the attacker took advantage of a unique implementation of KyberSwap’s concentrated liquidity feature to “trick” the contract into believing it had more liquidity than it did in reality.

1/ Finished a preliminary deep dive into the Kyber exploit, and think I now have a pretty good understanding of what happened.

This is easily the most complex and carefully engineered smart contract…

Read more on Cointelegraph