KiloEx Offers Bounty After $7.5M Hack

KiloEx Offers Bounty After $7.5M Hack

Decentralized exchange (DEX) KiloEx announced a 10% white hat bounty—$750,000—to the hacker responsible for a $7.5 million cryptocurrency theft. The sophisticated attack exploited vulnerabilities across multiple blockchains within the KiloEx platform (BNB, Base, and Taiko).

90% Recovery Deal

KiloEx, in collaboration with law enforcement, cybersecurity agencies, and other exchanges, is tracking the stolen funds. The company has publicly disclosed the hacker's wallet addresses and is prepared to freeze any assets as needed. The offer to the hacker: return 90% of the stolen funds within 72 hours to receive the bounty. KiloEx pledged public acknowledgement via tweet upon successful recovery.

Legal Action Imminent

If the hacker fails to comply, KiloEx will pursue legal action. The investigation has revealed a vulnerability in the platform's price oracle feature. KiloEx has temporarily suspended operations, cooperating with security firms like BNB Chain and Manta Network to address the vulnerability and prevent future attacks.

KiloEx's Commitment to Security

This incident highlights the complexities of securing decentralized platforms. KiloEx's proactive approach, combining a bounty program with law enforcement collaboration, demonstrates a commitment to recovering funds and strengthening security measures. While prioritizing a peaceful resolution, KiloEx remains steadfast in pursuing legal action if necessary. The company's ongoing efforts underscore the importance of robust security protocols within the blockchain ecosystem.

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