DeFi platform KiloEx to compensate users impacted by $7.5M hack

Quick Summary:

On April 18, the DEX said it would withdraw all legal action against the hacker and reward them with a 10% white hat bounty. Related: Mantra OM token crash exposes ‘critical’ liquidity issues in cryptoKiloEx hacker exploited a price oracle vulnerabilityOn April 14, KiloEx suspended its platform after containing the exploit that led to $7.5 million in losses.

Security firm PeckShield said the attacker likely exploited a price oracle vulnerability that allowed them to inflate the prices to gain more profit than they should have. In a post-mortem published by KiloEx, the platform confirmed that the attacker exploited a permissionless function.

Compensation will be calculated based on the platform’s resume time,” KiloEx stated. Source: KiloExStakers’ principal and earnings remain unaffectedFor the platform’s Hybrid Vault stakers, KiloEx said that the stolen funds were fully reinjected into the vault.

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Article Details

Author / Journalist: Cointelegraph by Ezra Reguerra

Category: Crypto

Markets: United States

Topics: Platform Compensate Hacker Kiloex Attacker Users Traders Funds April Price Stakers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-24 @ 09:05:38 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 456 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28186221

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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