Important Announcement. At KyberSwap, we always prioritise the safety of our user's funds and the integrity of our ecosystem.

31 Jul 2023, 05:49

⚠️ Important Announcement At KyberSwap, we always prioritise the safety of our user’s funds and the integrity of our ecosystem. We have recently learned that Kannagi Finance, a third party yield aggregator which accepted LP tokens from multiple zkSync DEXs including KyberSwap, has turned out to be a scam project. All traces of their online presence including their website, Twitter, Telegram and other accounts, have been deleted. KyberSwap Classic and Elastic Liquidity are decentralized, non-custodial protocols where the Kyber team does not hold power over the liquidity in the Pools’ smart contracts. As such, we cannot withdraw funds from liquidity pool contracts without holding corresponding LP tokens. We sympathise with those affected by such incidents and are actively participating in a joint effort with other DEXs & parties in the zkSync ecosystem to investigate and report any pertinent information related to the Kannagi team that could potentially help those affected. However, we want to remind users that zkSync Era is fully permissionless – meaning that anyone can build on the network; similarly, anyone can build a protocol compatible with KyberSwap pools. Users are responsible for their own funds and should always do their own research before using any third party protocol. Thank you for your continued support and trust in KyberSwap. If you have any questions or concerns, please don't hesitate to reach out to our team. Stay safe and vigilant in the DeFi space.