Bull's Trade Company Türkiye

In relation to the KyberSwap Elastic incident that transpired from 22 November 2023, 10:54:09 PM UTC, resulting in the exploitative swaps by the exploiter that drained approximately $48.8 million of users’ funds from KyberSwap Elastic liquidity pools, we reiterate our unwavering commitment and efforts to support law enforcement and cybersecurity on track-down of the exploiter and recovery of users’ funds taken from them. We want to assure our users that we are standing by you during this challenging period and that we understand that until funds are recovered that users would continue to have concerns especially those in hardship due to the loss caused by the exploit. As such and notwithstanding that KyberSwap Elastic is a decentralized and permissionless protocol under which users accept risk of use of KyberSwap Elastic and being liquidity providers, as stated in the Terms of Use, we are planning grants from the KyberSwap Treasury to users to ease the hardship from the loss caused by the exploit. Our present plan is for the KyberSwap Treasury to extend a grant to each user (who lost funds in the exploit and which have not been recovered) of an amount up to the USD value of such funds at the time when such funds were drained from their respective liquidity pools. We are working out the details of the above proposed treasury grant and will announce more details within the next two weeks.