Last week, Kaddex team contacted us saying a bug had been discovered in the Kadenaswap smart contract. Kaddex engineers Kate and Gustavo were able to create a proof of concept and confirm it was a real issue. They immediately reached out to other DEXes in the network, us and Anedak, to alert to the situation. Implementations of Kadenaswap across all three DEXes have been halted, and hotfixes are already in the works in collaboration with the other projects. After identifying this issue and reviewing Kadenaswap, three vulnerabilities in total were identified.

We are currently working together with Anedak, Kaddex and Kadena to develop and test solutions to allow trading to resume across the network. Resuming functionality of these key infrastructure pieces on Kadena is a top priority for us all. The current timeline for implementing fixes and restarting trading is by the end of this week or early next week. However, until we can properly test and review the proposed fixes, and make sure that there is no longer any threat to user funds, the contracts will remain paused.

We will be sharing additional details regarding these vulnerabilities after we can ensure that the network is secured against malicious actors and proper fixes are implemented. One of our major takeaways from this event is that this ecosystem is strong, and we are fully united in delivering the next generation of blockchain technology that Kadena enables. And after this event, we are stronger than ever before.

Next to finding solutions to these issues to prevent attacks on KDSwap, we are also strengthening the core and improving KDSwap as a whole. Our highest priority right now is guaranteeing the safety of all user funds.

As soon as we can do that, trading will resume on KDSwap!

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