Cyvers, a blockchain security company, has detected a $50 million flow of HAXcoin (HXA) (the native utility token of the Herencia Artifex non-fungible token project) related to exploiters of KyberSwap.

The address of the KyberSwap exploiter utilized the "transferfrom function" to obtain these tokens from an Ethereum address.

Decentralized application users typically use the "transfer" function, which allows one party (the sender) to transfer or send tokens from the balance of another party (the owner) to a third-party address. However, improper use or vulnerabilities in executing such functions can lead to security issues.

ALERT: Our system has detected an abnormal transaction related to the @KyberNetwork exploiter. The address funded by the @KyberNetwork exploiter has received $50M worth of $HXA from the 0x0..000dEaD $ETH address using the transferfrom function! Address: Link… Image

Cyvers has indicated that the security vulnerability is related to a potential flaw in the Multicall function, which is part of the third-party network library used in the HXA token smart contract. They have presented this viewpoint in their report and encourage relevant parties to participate in the investigation to fully understand the scope and consequences of the vulnerability. The Cyvers team has stated that the funds obtained by the KyberSwap exploiter are dispersed across multiple externally owned accounts and have now been confirmed as the top holders of HXA tokens.

Cryptocurrency exchange MEXC has temporarily suspended withdrawals and deposits of HXA tokens. However, according to the exchange, this suspension is not directly related to security concerns from the hacker attack, but rather due to abnormal on-chain operations of HXA.

Another development in the story is that the official website of HXAcoin, hxacoin.io, is currently inaccessible, preventing investors and stakeholders from obtaining official information and updates.

Last month, hackers stole approximately $46 million in crypto assets from the decentralized KyberSwap exchange.

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